§ Sir E. NICHOLLasked the Chancellor of the Exchequer whether a material part of recent industrial activity has been due to re-instatement of pre-War plant and machinery of business for the purpose of re-establishing peace activities; and is he aware that under the burdens of taxation proposed in the Budget much of this labour and capital will be rendered abortive and be almost wholly lost?
Mr. CHAMBERLAINThe answer to the first part of the question is in the affirmative, and to the second in the negative.