§ 9. Mr. Houghton
asked the Chancellor of the Exchequer to what extent higher gross annual values for rating purposes will result in higher gross assessments for Income Tax, Schedule A; and if he will make a statement on this matter.
§ Mr. H. Brooke
The new rating valuation will not automatically result in a revision of assessments for Income Tax, Schedule A. No such revision could be made without fresh legislation. The Royal Commission on the Taxation of Profits and Income made certain recommendations in its final Report, but my right hon. Friend has not yet completed his consideration of the matter.