§ 62. Sir W. Wakefieldasked the Chancellor of the Exchequer what his estimate is of the financial savings in administration and collection to the taxpayer which would be achieved by the substitution for the existing Purchase Tax of a turnover tax based on audited accounts as agreed with the tax authorities and therefore collected with negligible cost.
§ Mr. PowellI doubt whether the savings which my hon. Friend has in mind would result from such a change, since traders would have to furnish special statements which would require considerable supervision.