Colonel NEWMANasked the Chancellor of the Exchequer whether he is aware that on or about the 30th July of last year the Financial Secretary to the Treasury gave an interview to a deputation, representing the trading community of the country, and promised that, in the event of the Corporation Profits Tax being continued in this year's Finance Bill, he would cause the cooperative trading societies to be again made liable to the tax; and what steps he intends to take to fulfil his undertaking?
§ Sir J. BAIRDI am afraid my hon. and gallant Friend has been misinformed. As he will remember, the question of the liability of Co-operative Societies to Corporation Profits Tax was fully discussed in connection with the Finance Bill of last year and no under- 1323W taking has been given to introduce legislation to modify the existing statutory basis of liability laid down as a result of that discussion.