§ Earl PERCYasked the Chancellor of the Exchequer whether self-help societies registered as specially authorised societies under The Friendly Societies Act, 1896, are entitled to the exemption from income tax granted to friendly societies under the Income Tax Acts; and, if not, whether, in view of the limited incomes of investors in the smaller societies, he will consider the desirability of extending the same relief to them?
§ Mr. LLOYD-GEORGESpecially authorised societies are not entitled to the exemption from income tax granted to friendly societies, and I do not think that any sufficient reason can be shown for the extension to them of the benefit of that exemption.