§ 44. Mr. Warbeyasked the Chancellor of the Exchequer whether, in order to overcome the current dangers of inflation, he will take early steps to increase taxation on distributed profits and to impose a tax on realised capital gains.
§ Mr. H. BrookeThe hon. Member will not expect me to anticipate my right hon. Friend's Budget statement.
§ Mr. WarbeyYes, but is the hon. Gentleman aware that the Chancellor has already anticipated his Budget statement by the action he took a fortnight ago? Was not the main purpose of using the clumsy and inequitable weapon of a rise in the Bank Rate to enable him still to introduce a soft Budget for election purposes? Will not the hon. Gentleman advise his right hon. Friend to see that the burden of reducing consumption is put where it ought to belong?
§ Mr. BrookeI cannot say anything about the Budget that is coming. I thought the hon. Member would be aware of the distinction between a Budget statement and the raising of the Bank Rate.