HC Deb 02 April 1925 vol 182 cc1536-8W
Mr. W. THORNE

asked the Chancellor of the Exchequer what date has been fixed for the return to the gold standard?

Mr. CHURCHILL

I would refer the hon. Member to the answer I gave on the 26th March to the hon. Members for the Stroud Division (Sir F. Nelson) and Aberdeen East (Mr. Boothby).

Brigadier-General WARNER

asked the Chancellor of the Exchequer what effect the restoration of the gold standard would have on His Majesty's Government's remittances to the United States of America in payment of debt?

Mr. CHURCHILL

The annual remittance to the United States at the present time, if the exchange is at par, would be £33,004,000.

Brigadier-General WARNER

asked the Chancellor of the Exchequer whether any steps have been taken by his Department, through chambers of commerce or otherwise, to ascertain the views of leading manufacturers in our staple industries on the probable effect on these industries of a restoration of the gold standard?

Date. Super-tax assessed and demanded (less tax found due to be remitted). Super-tax paid.
Amount. Per cent.
£ £
1st January, 1924 … … 33,466,000 2,493,000 7.45
1st April, 1924 … … 53,096,000 34,028,000 64.1
31st December, 1924 … … 60,639,000 56,330,000 93.3

The tax unpaid at each date included not only liabilities which had been recently assessed, but also many which were the subject of inquiry or appeal.

Colonel WOODCOCK

asked the Chancellor of the Exchequer (1) whether he will consider the question of making the years for assessment of Income Tax and Super-tax coincide, and so enable the one form to be utilised for both purposes instead of the present expensive method of calling for particulars in each case;

(2) whether he has been able to further consider the rearranging of the Department for assessing and collecting Super-tax and Income Tax, respectively, so that the whole of the work may be more economically carried out by the one Department, and not, only save the necessary work involved in transmitting all the various accounts from the Inland Revenue Department to the Super-tax offices, but considerably add to the convenience of the taxpayer who would deal with one Department instead of two?

Mr. CHURCHILL

Steps have been taken through various channels to ascertain the views of manufacturers on this matter.