§ 47. Mr. Diamond
asked the Prime Minister whether he is now able to announce the terms of reference and the membership of the Royal Commission on the Taxation of Profits and Income.
§ Mr. H. Morrison
I have been asked to reply. Yes. As my right hon. Friend the Prime Minister informed the House on Tuesday, 24th October, 1950, the Chairman of this Royal Commission will be Lord Justice Cohen. The King has now been pleased to approve the appointment of the following members of the Commission:
- Mrs. Vera Anstey, D.Sc.
- Mr. Herbert Lionel Bullock.
- Mr. William Speight Carrington, F.C.A.
- Mr. Wilfred Frank Crick.
- Sir Thomas Harry Gill, J.P.
- Mr. John Eric Greenwood.
- Sir Geoffrey Heyworth.
- Mr. John Richard Hicks, F.B.A.
- Mr. Nicholas Kaldor.
- Mr. William Johnston Keswick.
- Miss Lucy Stuart Sutherland, C.B.E.
- Mr. James Millard Tucker, K.C., J.P.
- Mr. George Woodcock.
The terms of reference are as follows:To inquire into the present system of taxation of profits and income, including its incidence and effects, with particular reference to the taxation of business profits and the taxation of salaries and wages: to consider whether for the purposes of the national economy the present system is the best way of raising the required revenue from the taxation of profits and income, due regard being paid to the points of view of the taxpayer and of the Exchequer: to consider the present system of personal allowances, reliefs and rates of tax as a means of distributing the tax burden fairly among the individual members of the community: and to make recommendations consistent with maintaining the same total yield of the existing duties in relation to the national income.