§ Mr. RHYSasked the Chancellor of the Exchequer whether, in view of the largely increased imports of articles to be liable under the McKenna Duties, he proposes to take any action to antedate the operation of these duties?
Mr. GUINNESSFollowing the warning which the Chancellor of the Exchequer gave on the 6th May, in reply to a question by the hon. and gallant Member for Torquay (Commander Williams), the importations of goods liable to the McKenna Duties, taken as a whole, were no greater, until the House adjourned for the Whitsuntide Recess, than had been anticipated at the time of the Budget statement. Considerable importations have, however, taken place this month, but, having regard to the stage which the Finance Bill has now
— 1919–20. 1925–26. Amount. Percentage. Amount. Percentage. £ Per cent. £ Per cent. Indirect Taxes … … 280,264,000 28.0 233,810,000 34.1 Direct Taxes … … 431,414,000 43.1 448,750,000 65.4 Excess Profits Duty … … 289,208,000 28.9 4,000,000 .5 1,000,886,000 100.0 686,560,000 100.0 Excluding Excess Profits Duty, the proportions of indirect and direct taxation to the tax revenue were as follows, the average of the five years before the War being added for comparison:
— Indirect Taxation. Direct Taxation. Per cent. Per cent Average 1909 to 1914 42.9 57.1 1919–1920 39.4 60.6 1925–26 (Budget Estimate). 34.3 65.7 Indirect taxes include all Customs and Excise duties, except licences and railway duties, which, with Inland Revenue and motor vehicle duties, are treated as direct taxes.