§ 5. Lieut.-Colonel Liptonasked the Chancellor of the Exchequer what amount was received during the past financial year in respect of Purchase Tax on London taxicabs.
§ Mr. Boyd-CarpenterForty-seven new taxicabs were licensed in London in the 12 months up to 31st March last. The amount of Purchase Tax paid on these cabs was about £22,000.
§ Lieut.-Colonel LiptonIs the Financial Secretary aware that a paltry concession of this kind will do little or nothing to prevent the economic collapse of the London taxicab trade? Will he have another look at the matter, because, otherwise, taxis will completely disappear from the streets?
§ Mr. Boyd-CarpenterThe Government recognise that there is a problem here, and that is why we asked the Runciman Committee to investigate, but there are many industries which would not regard 1374 the withdrawal of Purchase Tax from articles in which they are interested as a paltry consideration.