HC Deb 17 July 1934 vol 292 c941W

asked the Financial Secretary to the Treasury whether his attention has been drawn to the formation of a Fascist supply company in this country which offers to supply members of the British Union of Fascists with their clothing requirements, all profits being devoted to the movement; and whether, in view of the adverse effect on the revenue through the extension of such co-operative enterprises, he will take steps to reconsider the adequacy of the revised taxation recently imposed upon such societies?


I do not know what particular company my hon. Friend has in mind. As he is aware, however, any incorporated company formed with the objects which he mentions would, under the existing law, be chargeable on all its trading profits and any other income. In these circumstances there would not appear to be sufficient reason for proposing any further Income Tax charge in such a case.