§ Sir E. NICHOLLasked the Chancellor of the Exchequer whether, during recent years when abnormal taxation was willingly met, the Government, in addition to the sums derived from taxation, expended in this country vast sums derived from loans, and that the latter expenditure which has now ceased circulated largely amongst those who paid the abnormal taxes and was the chief cause of their being able to do so?
§ Mr. BALDWINI agree with my hon. and gallant Friend that some, though by no means all, of those on whom the burden of taxation fell with special weight during the War were greatly assisted in bearing their burden by abnormal profits arising in part out of the expenditure by the Government of the proceeds of loans.