§ Mr. NORMAN CRAIGasked the Chancellor of the Exchequer whether he is aware that at the present time there are engaged in trade in this country co-operative societies with an aggregate capital of £34,000,000 and an aggregate yearly turnover of £110,000,000; whether he is aware that these societies pay no Income Tax as trading concerns in the same way as joint stock companies pay Income Tax as companies; and whether he will, in the imposition of Income Tax in the present Session, remove this inequality?
§ Mr. MASTERMANI beg to refer the hon. Member to the Report on this subject in 1905 of the Departmental Committee on Income Tax presided over by the Right Hon. C. T. Ritchie. For the reasons explained in paragraphs 133 to 136 of that Report my right hon. Friend is not prepared to introduce legislation on the lines suggested.