§ Mr. PENNEFATHERasked the Chancellor of the Exchequer whether his attention has been drawn to the fact that the increase in the rate of the Excess Profits Duty to 80 per cent. may, in certain cases where the trading results in the later years have shown a marked improvement, result in the four years' accounting to date make a taxpayer liable on balance to make a net payment of Excess Profits Duty, although as a matter of fact he has on balance made no excess income whatever during the four years in question; and whether, in these circumstances, he will introduce legislation, as he did in the case of Excess Mineral Profits Duty, or 325W take administrative action resulting in limiting the liability of the taxpayer under the Excess Profits Duty to pay only on the total excess income actually earned during the whole period under review, without prejudicing the right of the Government to a complete final reckoning when the Excess Profits Duty comes to an end?
§ Mr. BONAR LAWI would refer my hon. Friend to the replies which I gave on the 4th and 25th June to my hon. Friend the Member for Everton. I am sending him copies.