§ Lieut.-Colonel HILDERasked the Chancellor of the Exchequer if he will extend to private firms the same conditions regarding Super-tax on sums placed to reserves as those provided in Clause 14 of the Finance Bill for private companies?
Mr. YOUNGClause 14 affords, in my judgment, no ground for legislation in the direction suggested by my hon. and gallant Friend. This Clause is designed only to prevent avoidance of Super-tax, which is being practised in a limited number of cases, contrary to the plain intention of the law.