§ 45. Mr. Arthur Lewisasked the Chancellor of the Exchequer whether he is aware that daily advertisements are published and printed literature circulated to members of the public asking them to take out credit facilities; whether expenses incurred for such purposes are allowed as taxable expenses against profits by the companies responsible for such appeals; and, in the light of the Government's recent credit restrictions, if he will seek power to control such advertisements.
§ Mr. DiamondSuch expenses are allowable for tax relief if they are incurred wholly and exclusively for the purposes of the advertisers' business. The answer to the third part is No.