§ Mr. HANNONasked the Chancellor of the Exchequer whether the estimated receipts of £30,000,000 from the Corporation Profits Tax will be realised; and, if not, to what causes he attributes the deficiency?
Mr. YOUNGThe amount of Corporation Profits Tax assessed for the year 1921–22 approximates closely to £30,000,000, but owing to the exceptional industrial and financial conditions now prevailing it is probable that the receipt during the year will fall very substantially short of the assessment.