§ Mr. BRIGGSasked the Chancellor of the Exchequer why the managers of a private limited company, being directors, though not holding a controlling interest in shares, are not allowed to be paid any increased salary over what they received during the basis years?
Mr. CHAMBERLAINMy hon. Friend is under a misapprehension. In the case of directors not having a proprietary interest in the business, the practice is to allow as a deduction from profits any increase actually paid up to £2,000 over the amount of the pre-War remuneration.