§ 32. Lieut.-Colonel Bromley-Davenport
asked the Chancellor of the Exchequer whether he has now had an opportunity of considering representations made to him as to the desirability of extending Income Tax concession to self-employed persons who wish to make adequate provision for their retirement; and whether he will take action with regard to this matter in the next Finance Bill.
§ Lieut. - Colonel Bromley - Davenport
Would my right hon. Friend not agree that it is practically impossible, with the present penal rate of taxation, for self-employed people today either to provide for their own old age or for their families' old age? Is it not terribly unfair that this section of the community should be penalised in this way? Is it not high 1959 time that a Conservative Government remedied this gross injustice?
§ Mr. Macmillan
I hope that my hon. and gallant Friend will be content to await my statement on the Budget, which is not a very long time away.
§ Mr. E. Fletcher
In the meantime, will the Chancellor bear in mind the very great injustice and inequality which results under the present Income Tax laws between those who can and those who cannot make provision for their retirement?