§ 68. Mr. N. Daviesasked the Chancellor of the Exchequer on what grounds the nationalised industries are applying for exemption from Profits Tax; and whether he will give an assurance that they will not be treated more favourably than private firms in this respect.
§ Mr. JayNo such application has been made to my right hon. and learned Friend. I assume that the hon. Member has in mind the representations made by the nationalised industries to the Tucker Committee on the Taxation of Trading Profits in which they contended that certain special provisions of the Profits Tax law affected nationalised concerns adversely as compared with private industry.