HC Deb 31 March 1909 vol 3 c462W

asked the Chancellor of the Exchequer whether, seeing that cooperative societies are exempt from income tax because the individual incomes of the shareholders rarely exceed £160 per annum, he will extend the same privilege to the trading profits of municipal corporations, seeing that the bulk of the ratepayers, for whose benefit the profits are made, have incomes below the income tax minimum?


I do not see my way to take the course which my hon. Friend suggests.