Excess Profits Duty.

Oral Answers to Questions — Finance Act. – in the House of Commons am ar 7 Gorffennaf 1925.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of Mr Herbert Williams Mr Herbert Williams , Reading

50.

asked the Chancellor of the Exchequer the receipts and repayments of Excess Profits Duty during the three months ended 30th June, 1925, and the arrears outstanding on that date?

Photo of Mr Winston Churchill Mr Winston Churchill , Epping

The approximate gross receipt of Excess Profits Duty (including Munitions Levy) during the three months ended 30th June, 1925, was £2,560,000. Repayments of duty during the same period amounted to £2,640,000, leaving a net deficit of £80,000. The amount of Excess Profits Duty (including Munitions Levy) in assessment, but un paid at the 30th June, 1925, was approximately £123,000,000; but the amount to be ultimately received by the Exchequer will fall far short of this figure.

Photo of Mr Hugh Dalton Mr Hugh Dalton , Camberwell Peckham

Does the Chancellor still believe that his estimate for the present financial year of the Excess Profits Duty will be realised?

Photo of Mr Winston Churchill Mr Winston Churchill , Epping

I have not seen any reason to anticipate a different result.