§ Mr. SUGDEN
asked the Chancellor of the Exchequer whether the receipts from Excess Profits Duty in the six months ended 30th September, 1920, were less by more than £20,000,000 than the receipts in the corresponding six months in 1919?
The yield of the Excess Profits Duty for the six months ended the 30th September, 1920, was, as my hon. Friend states, some £20,000,000 less than the yield in the corresponding period of 1919. I would, however, remind him that owing mainly to the reduction in the rate of duty to 40 per cent. effected by the Finance Act, 1910, the estimated yield for the current financial year is about £75,000,000 less1976W than the yield for the financial year 1919–20.