§ Mr. KILEY
asked the Chancellor of the Exchequer whether he will submit, for the consideration of this House, regulations to effect the removal of the inequalities in the incidence of the Excess Profits Duty contemplated by Section 40 (3) of the Finance (No. 2) Act, 1915, and, in particular, whether be will insert a provision in the Finance Bill to enable the Commissioners of Income Tax and the Board of Referees to sanction the limitation of the period for the fixing of the pre-war standard to a term of less than two years, where such a reduction is requisite, to establish the normal pre-war profits of the individual, firm, or company affected, and a provision to accord to the payers of duty the right to require that the accounting period for assessment should not be less than twelve months?
As regards the first part of the question, I would refer the hon. Member to the reply which I gave on the 6th inst. to the hon. and learned Member for Ealing. I am sending the hon. Member a copy. As regards the second and third parts of the question, the Excess Profits Duty has now been in force for some five years, and I am not prepared at this date to introduce legislation which would have the effect of altering the whole scheme of the tax.