§ Mr. Lubbock
asked the Chancellor of the Exchequer what ad valorem percentage duty would have to be charged on imported solutions of alkyd resins in order to produce the same revenue as if 2s. 9d. per gallon duty were charged on the white spirit content alone, taking the average hydrocarbon oil content of imported consignments as 36.2 per cent. by weight, the specific gravity of the oil as 0.79, and the declared value of the solutions as £132 per ton; what loss of revenue has resulted from the difference between this rate and the 5.5 per cent. actually charged, since the introduction of the 5.5 per cent. rate; and what 144W proposals he has for equalising the rate of recovery as between British and foreign producers of alkyd resins.
§ Mr. du Cann
I do not accept the implication of the first two parts of the hon. Member's Question that the 5½ per cent. rate of duty has been wrongly charged hitherto. An increase in the 5½ per cent. rate has been agreed in principle, but its implementation has been deferred, with the agreement of the trade association concerned, pending determination of an allied application relating to the protective duty on the goods in question.