§ Sir J. Mellorasked the Chancellor of the Exchequer why the uplift for Purchase 1190W Tax values have recently been increased from 7½ per cent. to 12½ per cent. on sales of certain non-utility apparel by manufacturers, who normally sell to ordinary retailers?
§ Sir K. WoodThe adjusting figure of 7½ per cent. was related to an assumed wholesale margin of 20 per cent. The figure of 12½ per cent. is related to the margin of 25 per cent. now permitted by the relative Board of Trade Order—Statutory Rules and Orders, 1942, No. 1407.