§ 48. Mr. Coleasked the Chancellor of the Exchequer if he has any proposals to make to minimise the loss likely to be suffered by retailers on tax-paid stocks, as a result of future reductions in Purchase Tax.
§ 53. Dr. Kingasked the Chancellor of the Exchequer what action he proposes to take to mitigate the burden which is likely to fall on retailers holding tax-paid stocks resulting from future reductions in Purchase Tax.
§ Mr. Boyd-CarpenterI regret that I cannot add to what I said on this subject on 22nd June during the Finance Bill debates.
§ Mr. ColeIs my hon. Friend aware that, although the suggestions made about the dates of changes in Purchase Tax will be of assistance in the difficulties of traders, there will still be many losses 1902 suffered? Will the Chancellor give careful consideration to the many schemes which have been submitted to him?
§ Mr. Boyd-CarpenterI do not go back on anything that has been said. I am aware of the connection between this and the other Question.
§ Dr. KingIs the hon. Gentleman aware that almost everybody in this country admits the injustice whereby retailers who collect Purchase Tax for the Government are punished when it is reduced? Will he not see that something is done before the next Budget, indeed in the next few weeks, otherwise the injustice will be perpetrated?
§ Mr. Boyd-CarpenterI hope the hon. Member will not be too critical of us for not solving a problem which the Hutton Committee could not solve in six months, and which the late Administration did not solve in six years.