HC Deb 20 May 1954 vol 527 c136W
Mr. Grimond

asked the Chancellor of the Exchequer what the cost would be for the current year of remitting the tax on the undistributed profits of companies.

Mr. R. A. Butler

I assume the hon. Member has in mind the Profits Tax charged at 2½ per cent, on undistributed profits. The cost of removing this charge would be about £40 million.