§ Colonel WOODCOCKasked the Chancellor of the Exchequer what it would cost the Exchequer to remit Income Tax upon the profits of limited companies not distributed annually as dividends?
§ Mr. CHURCHILLOn the limited in formation available I estimate that the remission of Income Tax at the proposed standard rate of 4s. on the profits of companies (including statutory and chartered companies) not distributed as interest or dividends would cost the Exchequer approximately £50,000,000.