HC Deb 05 February 1934 vol 285 cc812-3W
Mr. SUMMERSBY

asked the Financial Secretary to the Treasury the annual wholesale and retail turnover of the co-operative societies in England; and, assuming that 7 per cent. net profit is a reasonable estimate on their turnover, what would be the percentage of tax payable by the retail trading concerns of this country were the same trade done by the retailer and the large stores?

Mr. HORE-BELISHA

My hon. Friend will find particulars of the wholesale and retail turnover in Part III of the Annual Reports of the Chief Registrar of Friendly Societies. I am unable to furnish the estimate asked for in the second part of the question, and would refer my hon. Friend to the reply to his question of 1st February in which it was stated that no Income Tax statistics are collected as to the amount of tax payable by persons engaged in wholesale and retail business.

Mr. SUMMERSBY

asked the Financial Secretary to the Treasury if he proposes to investigate the extra taxation which will be thrown upon the rest of the community by the intended extension of the co-operative retail movement, and its effect upon competitive retail private trade which pays a large proportion of existing taxation?

Mr. HORE-BELISHA

All matters of public fiscal concern are naturally under constant review, but it is not considered that the developments contemplated by my hon. Friend call for the inquiry he suggests.

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