§ Sir B. PETOasked the Chancellor of the Exchequer the names of the members of the committee on co-operative trading and taxation; the terms of reference; and when it is anticipated that the committee will commence its work?
Mr. CHAMBERLAINThe committee will be composed of Mr. W. N. Raeburn, C.B.E., K.C. (Chairman), Sir Geoffrey Corbett, K.B.E., C.I.E., and the present President of the Institute of Chartered Accountants, Mr. H. L. H. Hill, who have very kindly consented to serve at my request. The terms of reference are as follow
To inquire into the present position of Co-operative Societies in relation to the Income Tax and to report whether any modification of that position is desirable and, if so, what alterations of the law are required for the purpose.I cannot, of course, say when the committee will report, but I do not imagine that the inquiry will take very long.