§ 34. Mr. Rankin
asked the Chancellor of the Exchequer how much he estimates that the cinema tax will yield, on the basis of present cinema admissions, in the year ending 31st March, 1960.
The Budget estimate included £9¼ million in respect of Entertainments Duty, and it was estimated 21 that this would be reduced to £7¼ million by the relief under Section 6 of the Finance Act, 1959. It is not the practice to publish revised estimates during the course of the year.
§ Mr. Rankin
The yield from the exhibitor, as the Chancellor knows, is steadily diminishing. Does he realise that, at the other end of the industry, millionaires are being made almost every day and that one gentleman recently observed that the easiest way to become a millionaire was to produce British films? Does he intend to continue this ill-balanced system whereby the poor are taxed in order to help the rich? Will he afford some relief to the exhibiting side in his forthcoming Budget?
I will take note of what the hon. Gentleman has said. If millionaires are being created, as he suggests, when they have been created I shall hope, with confidence, to get some contribution from them towards my general taxation.
I said that, when the creation of the millionaires had taken place, I should hope to receive something from them.