HC Deb 15 December 1953 vol 522 cc186-7
29. Mr. Roy Jenkins

asked the Chancellor of the Exchequer why director-controlled companies, formed after 1948, are allowed by the Inland Revenue to pursue a less conservative dividend policy than those formed before this date.

Mr. R. A. Butler

I think the hon. Member must be under some misapprehension, for the Inland Revenue have no power to control the dividend policy of companies.

Mr. Jenkins

If I send the right hon. Gentleman particulars of a case in which the Inland Revenue refused a company, formed since 1948, so far as Surtax assessment is concerned, the protection of the statement made by Sir Stafford Cripps in 1948, will the right hon. Gentleman look into it?

Mr. Butler

I will certainly look into it, because I do not usually find that the hon. Member is suffering under a misapprehension.