§ Sir JAMES AGG-GARDNERasked the Chancellor of the Exchequer whether his attention has been called to the statement that fifteen leading brewing companies in this country are alleged to have made gross profits in 1917 of more than £7,000,000; and if he can say whether, approximately, £5,500,000 of those profits were absorbed by the Exchequer in the shape of Income Tax and Excess Profits Duty?
Mr. CHAMBERLAINI have no special information on this subject. Any excess profits included in the profits of a business 885W for the period in question would be chargeable with Excess Profits Duty at the rate of 80 per cent., and in addition any trading company would be liable to Income Tax in the ordinary way.