47. Mr. Fletcher-Cookeasked the Chancellor of the Exchequer if he will incorporate in his proposals for taxing distributed profits at a higher rate than undistributed profits an escape clause for those director-controlled companies who are forced to pay dividends against their better judgment under the threat of Surtax direction.
§ Mr. CallaghanI have noted the hon. Gentleman's suggestion and will bear it in mind in framing my detailed proposals.