§ Mr. S. Marshall
asked the Chancellor of the Exchequer what was the revenue from Purchase Tax on medicines and drugs for 1947–48; and what is the estimated loss of such revenue as a result of his proposal to leave only branded medicines subject to Purchase Tax henceforward.
§ Sir S. Cripps
About £9 million (mainly at the pre-November Budget rate of 16⅔ per cent.); and £4 million for a full year (on the basis of the current rate of 33⅓ per cent.) respectively.