§ 120. Mr. Errollasked the Chancellor of the Exchequer what steps he is taking to remove the injustice whereby certain United Kingdom controlled overseas mining companies pay aggregate taxes at a rate of over 70 per cent. of their profits because certain local taxes levied wholly or partly in lieu of local income tax, do not qualify for double taxation relief.
§ Mr. H. BrookeThis is a matter on which the mining industry has made representations to the Royal Commission on the Taxation of Profits and Income. Consideration must await the Commission's report.