§ Mr. M. JONESasked the Chancellor of the Exchequer how the estimated revenue for 1922–23 from Excess Profits Duty, amounting to £29,800,000, is arrived at; what is the estimated gross revenue from Excess Profits Duty in 1922–23: and what is the estimated amount to be repaid in respect of claims for recovery of Excess Profits Duty in 1922–23?
Mr. YOUNGThe estimated Exchequer receipt in 1922–23 of Excess Profits Duty is £27,800,000. This estimate has been prepared upon the assumption that the proposal for payment by instalments in suitable cases and for charging interest on outstanding arrears, as outlined in the Budget statement, will be accepted by Parliament. The figure in question represents the net receipt after allowing for repayments which are estimated at £47,000,000 to include the sum of £2,000,000 resulting from the proposed concession in certain cases of change of proprietorship.