§ Major Milnerasked the Chancellor of the Exchequer whether, in view of the apprehension felt in some quarters, he will indicate whether National Defence Contribution will apply to the income of superannuation funds of insurance companies and similar bodies where employers and employés jointly contribute for the purpose of providing retiring or disability pensions?
§ Lieut.-Colonel ColvilleI assume that the hon. and gallant Member has in mind those Superannuation Funds established for the benefit of employés in a trade or undertaking as defined by Section 32 of the Finance Act, 1921. Such a fund will not be liable to the National Defence Contribution.