HC Deb 31 January 1967 vol 740 cc234-5
22. Mr. Dalyell

asked the Chancellor of the Exchequer whether, in the light of the written representations he has received from the Institute of Directors on the subject of pre-Budget tax secrecy, he will have wider consultations before finalising his tax plans.

Mr. Callaghan

I receive representations before the Budget from a wide range of interests and when appropriate they are discussed with those who submit them. I welcome these representations and study them with great care, but I do not think it would be helpful to interpose a new body such as the Institute has suggested.

Mr. Dalyell

Does my right hon. Friend think that all the secrecy that surrounds Budget decisions is really necessary?

Mr. Callaghan

Broadly, yes, although I never like to over-emphasise the importance of the Budget in the economic scheme of things. It is a national sport in which most people disagree with me. On the question of confidentiality, however, I think that broadly it must be maintained.

Mr. Bruce-Gardyne

Will the Chancellor bear in mind in particular any representations which are made about the level of Corporation Tax, bearing in mind especially that any increase in the level of this tax would have a most damaging effect on the falling level of manufacturing investment?

Mr. Callaghan

That seems to me to be a rather different proposition, but I assure the hon. Member that I have had a great many representations on this and on many other matters.