§ Mr. FORRESTasked the Chancellor of the Exchequer if he can explain in general terms the reasons given for the non-payment of Excess Profits Duty, due long since, to the Treasury; and whether many firms have not yet paid any sum, although the amount is not disputed?
Mr. CHAMBERLAINMany industries, in consequence of the present abnormal conditions, find it necessary to employ largely increased resources in order to purchase stocks and carry on their business generally. In such case the difficulty of making prompt payment of large sums for Excess Profits Duty is obvious; and the Commissioners of Inland Revenue, in accordance with their statutory powers, allow payment of duty to be made by reasonable instalments, as the circumstances of each case require. The reply to the last part of the question is in the negative.
§ Sir J. CORYasked the Chancellor of the Exchequer whether, in order that business men may be able to undertake new enterprises and the development of present undertakings, he will now make a definite announcement with reference to the continuance, modification, or abandonment of the Excess Profits Duty?
Mr. CHAMBERLAINAs I stated in my reply to my hon. Friend the Member for the Royton Division (Mr. Sugden) on 865W the 28th October, at present I can add nothing to the statement made by me in the summer as regards the future of Excess Profits taxation.