HC Deb 19 July 1955 vol 544 cc180-1
2. Mr. Osborne

asked the Chancellor of the Exchequer if he will consider amending the Finance Act, so that bonus shares given to workpeople, up to a maximum market value of £250 each and subject to them being retained for a minimum number of years, should be free of Income Tax to the workers.

Mr. R. A. Butler

I have noted the proposal, but my right hon. Friend the Financial Secretary has already drawn my hon. Friend's attention to the difficulties and inequities inherent in proposals of this kind.

Mr. Osborne

While recognising that great inequalities would result from adopting such a scheme, may I ask my right hon. Friend whether it is not better to encourage co-partnership schemes and forgo a little revenue for the Inland Revenue?

Mr. Butler

It is not so much the revenue as equity about which I am worried.