§ 42. Mr. Croninasked the Chancellor of the Exchequer if he will arrange for the Board of Customs and Excise to collect Purchase Tax monthly from wholesalers instead of quarterly as at present.
§ Mr. PowellNo, Sir. Monthly collection would be unduly burdensome to wholesalers and would greatly increase the cost of collection.
§ Mr. CroninDoes the hon. Gentleman not appreciate that at present wholesalers of taxable commodities are holding very large sums of public money while these are awaiting collection? Has not the time at least arrived for a stop to be put to irregular perquisites, such as interest on public money?
§ Mr. PowellNo, Sir. In general, the credit which the wholesalers have in respect of tax is no longer than the credit which they give to their customers in respect of the tax which they have to recover from them.
§ 44. Sir I. Fraserasked the Chancellor of the Exchequer if, in his Budget next year, he will consider the claim of the owners and operators of hotels and boarding houses that the manufactured goods of all kinds used in their establishments are the tools of their trade and relieve them of Purchase Tax, subject to proper safeguards.
§ Mr. PowellI cannot anticipate my right hon. Friend's Budget statement.
§ Sir I. FraserWill my hon. Friend observe that I did not ask him to anticipate but merely to consider? Will he do that?
§ Mr. PowellYes, my right hon. Friend will consider all relevant matters in arriving at his Budget decisions.