§ Mr. BRIGGSasked the Chancellor of the Exchequer if he will consider the desirability of applying to a limited company the higher statutory percentage for interest on increased capital, as applicable to a firm in cases where the increased remuneration of the managers or managing directors is not allowed as a deduction by the Commissioners of Inland Revenue in computing the profits for purposes of Excess Profits Duty?
Mr. CHAMBERLAINThe question raised by my hon. Friend is one which has been brought to my notice in connection with the provisions of the Finance Bill, but I am not yet in a position to announce my view upon it.
§ Mr. BRIGGSasked the Chancellor of the Exchequer if he will consider the desirability of issuing regulations for the guidance of the Special Commissioners of Inland Revenue as to what constitutes a substantial proprietary interest for purposes of determining whether any increases of remuneration shall be allowed to managers and others concerned in the management of a business?
51W
§ Mr. BRIGGSasked the Chancellor of the Exchequer whether, in view of the depreciated value of the £ since 1913 and since the Finance Act of 1915 introducing the Excess Profits Duty, he will consider allowing to all managers and managing directors 100 per cent. increased remuneration over and above the pre-War basis, so that they may enjoy equitable treatment with all other servants of a company?
§ Mr. LUNNasked the Financial Secretary to the Treasury what have been the receipts from the Excess Profits Duty in each financial year since it was imposed; and also the estimated receipts from this duty for 1920–21?
§ Mr. BALDWINThe amounts of Excess Profits Duty (including Munitions Levy) paid into the Exchequer for each year since its imposition late in 1915 are as follows:—
For the year 1920–21 the yield is estimated to be £220,000,000.
Year. Exchequer Receipt. £ 1915–16 140,000 1916–17 139,920,000 1917–18 220,214,000 1918–19 285,028,000 1919–20 290,045,000