§ 58. Sir W. Wakefieldasked the Chancellor of the Exchequer what action he is proposing to take in connection with the letter addressed to him by the Engineering Industries Association about the treatment of losses for Income Tax purposes in view of the present high rate of taxation and the losses which certain engineering companies are facing.
§ Mr. JayThe Association's letter, in common with other representations for legislation in the next Finance Bill, will be taken into account in framing the Budget of my right hon. and learned Friend the Chancellor of the Exchequer, but I cannot anticipate his decision.