§ 71. Mr. J. Hudsonasked the Chancellor of the Exchequer what profits have been received by the brewing and distil- 80W ling industries, respectively, after payment of taxes during the last financial year and during the year 1938–39.
§ Mr. Boyd-CarpenterAfter deducting depreciation allowances, Income Tax and Profits Tax (or N.D.C.) the net profits of the brewing industry for the accounting years ending in 1938–39 and 1949–50 were £17 million and £15 million, respectively.
The figures include profits arising from trade ancillary to the main business. Figures for the profits in 1950–51 are not yet available.
I regret I am unable to give information about the profits of the distilling industry.