§ Viscount ELVEDEN
asked the Chancellor of the Exchequer whether the duty of 72s. 6d. per gallon on spirits yielded last year £7,500,000 less than was anticipated owing to decreased consumption; and, if so, whether he will take steps to
Year 1919–20. Year 1920–21. £ £ (Estimated.) Gross income … … 2,970,604,036 3,000,000,000 Deductions (necessary to reduce the gross income to the actual income liable to tax) for exemptions, repairs to property, wear and tear of machinery, overcharges in assessment, etc. … … 423,424,213 500,000,000 Actual income liable to tax before deduction of personal or family allowances and reliefs … … 2,547,179,823 2,500,000,000
My hon. Friend will see that the gross income is subject to considerable deductions of the nature stated in order to arrive at the actual income assessed. It1722W
reduce the duty in order that the revenue therefrom may be increased?
The answer to the first part of the question is in the affirmative. I cannot accept the Noble Lord's suggestion that a reduction in the rate of duty would necessarily increase the revenue from spirits.