HC Deb 06 February 1951 vol 483 cc1529-30
50. Mr. Alba

asked the Chancellor of the Exchequer whether he will enlarge the terms of reference of the Royal Commission on Taxation of Incomes to include consideration of taxes on capital gains.

Mr. Gaitskell

The Royal Commission have been informed, in reply to an inquiry received from them, that their present terms of reference entitle them to consider the question of charging to Income Tax or Profits Tax any profit ranking as a capital profit under the existing law which might reasonably be brought within the scope of those taxes.