New Clause. — (Exemption where the in come of an individual is not subject to Income Tax.)

Part of Orders of the Day — Finance Bill. – in the House of Commons am ar 7 Gorffennaf 1937.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of Mr John Tinker Mr John Tinker , Leigh

The strong point in the statement of the Attorney-General was the complications that would arise if this Clause were adopted, that is, the examinations that would have to be made to find out the people who did not come under the Income Tax law, and then to give back to them their share of profits. On the equity of the question, however, I think there can be no answer to our proposal. When this tax was originally put forward, it was understood to be a tax on the richer people who were making huge profits, and as some return for the protection they were getting from the warlike preparations, they were to make a contribution towards the manufacture of armaments. I have had letters from my constituents on the subject, one of which I will quote. It relates to the case of a man and his wife who invested their money and were getting some return upon it. That return was about sufficient to keep them, but if there is anything to be taken from it, it will put them in rather difficult circumstances. Some of the interest which they get will be taken away by this tax, and whatever is taken away will mean that there will be so much less for them. It may be only a slight amount, but in their case it will cause a grievance.