§ Mr. Woodburnasked the Chancellor of the Exchequer whether he is investigating the degree of capital appreciation in certain investments, due in no way to the efforts of the investors and solely to the changing circumstances of the war; and whether he is considering the possibility of taxing such capital increments as a source of additional revenue?
§ Sir K. WoodI am not prepared to adopt the suggestion made by my hon.910W Friend. Any proposal of this character which seeks to tax unrealised capital appreciation would—apart from any other objections there may be to it—of necessity involve also the taking into account of unrealised capital depreciation.