HC Deb 24 June 1937 vol 325 c1388W
Mr. Touche

asked the Chancellor of the Exchequer why investment trust companies, which merely act as collectors and distributors of revenue, are treated as trading companies for the purpose of National Defence Contribution?

Sir J. Simon

The issue raised by my hon. Friend is one that falls to be dealt with in the Debate on the Finance Bill rather than by question and answer, but I may say that I consider that a tax which extends to business of every description ought to embrace companies whose business activity consists of investment.