§ 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.