§ Mr. CLOUGH
asked the Chancellor of the Exchequer (1) what is the total revenue that he has received from industrial and co-operative societies from the Excess Profits Duty levied upon them by 1438W Rule 10, Fourth Schedule, Part I., of the Finance (No. 2) Act, 1915; and whether he is aware that the so called dividends paid to members of industrial and co-operative societies are not profits but discounts or the return of over-payments that were made by the members at the time of purchase; and (2) whether he is aware that the cost of food and other necessary commodities has advanced materially since 1st August, 1914; and if" he will say whether the Excess Profits Duty imposed upon industrial and cooperative societies by Rule 10, Fourth Schedule, Part I., of the Finance (No. 2) Act, 1915, is being levied not upon profits but upon the accrued monetary value of sales, purchases, and turnover?
§ Mr. BONAR LAW
As regards the yield of the duty. I would refer the hon. Member to the reply which I gave on the 10th May to my hon. Friend the Member for Leith Burghs. As regards the basis of charge, the duty attaches to the increase in the surplus per member, between which and the price of commodities there is no-necessary connection.