§ 22. Mr. Nally
asked the Chancellor of the Exchequer what action he proposes to take to end the situation under which the total costs of private price-maintenance organisations, including legal fees and investigation costs, are being allowed to be charged as legitimate business expenses against both profits and income by persons or groups concerned.
§ Mr. R. A. Butler
None. I see no reason to depart in this field from the ordinary rules governing the admissibility of deductions in computing trading profits for tax purposes.