§ Mr. HANNONasked the Chancellor of the Exchequer what loss would fall upon the Exchequer by the abolition of the Corporation Profits Tax during the next financial year and during a full year after the collection of outstanding arrears, respectively?
§ Mr. BALDWIN:It. is estimated that the abolition of the Corporation Profits Tax as from 1st January last, the anniversary of its imposition, would involve a loss to the Exchequer of £7,000,000 within the year 1923–24 and of £20,000,000 in the first full 12 months after abolition.