§ 1. Mr. Hastingsasked the Chancellor of the Exchequer whether he will consider reducing the level of direct taxation on those engaged in the agricultural industry; and if he will make a statement.
§ The Chief Secretary to the Treasury (Mr. John Diamond)I can see no justification for such differentiation in the incidence of direct taxation.
§ Mr. HastingsDoes the Chief Secretary realise that the present penal level of direct taxation, plus a bad season, is proving disastrous for a large number of small farmers and growers, and that in my constituency a number are going out of business as a result? Will he please take this seriously?
§ Mr. DiamondI take it very seriously. I would remind the hon. Gentleman that if a grower has a disastrous season and makes no profits he pays no tax on the profits he has not made.