§ Mr. Liddallasked the Chancellor of the Exchequer whether, in view of the fact that the proposed sales tax is a bad and unpopular tax, he will consider the advisability of substituting a 25 per cent. stamp duty on retail sales, as such a tax, to be named the victory tax, would apply 133W to approximately £1,000,000,000 value of stock at present held by retailers, which stock, under the sales tax, would not be taxed, thus missing the opportunity of raising practically immediately and with no expense £250,000,000?
§ Sir K. WoodI am not prepared to accept the assumption made by my hon. Friend. As I stated in my Budget speech, I satisfied that a retail sales tax would be impracticable in view, amongst other reasons, of the innumerable daily transactions that would be involved and of the large number of retailers who keep no accounts; and the matter has already been determined by Parliament.