§ Mr. Kirkwoodasked the Chancellor of the Exchequer whether his attention has been drawn to the Nailsea Steamship Company, of Cardiff, who it is announced have sold their 5,548 ton steamer "Nailsea River" for an amount estimated to be about £55,000 to Man- 403W chester Lines, Limited, which ship was bought by the Nailsea Steamship Company as recently as last May for about £16,000; and whether the profit on this sale will be subject to Excess Profits Tax?
§ Sir J. SimonI would refer the hon. Member to the reply given on 4th October last to the hon. Member for Plaistow (Mr. Thorne), in which the position with regard to the liability to taxation of profits arising from the sale of ships is stated. The hon. Member will appreciate that it would not be proper for me to discuss the liability to taxation of a particular taxpayer.