Ways and Means

Part of the debate – in the House of Commons at on 26 April 1944.

Alert me about debates like this

Photo of Lieut-Commander Joseph Braithwaite Lieut-Commander Joseph Braithwaite , Holderness

Listening to the hon. Member for Skipton (Mr. H. Lawson) makes one feel how easy of solution all our problems would be if they were only handed over to him. I am quite sure he will now be enlisted to deal, as rapidly as possible, with the grave financial position which has arisen in the Common Wealth Party owing to the defection of two prominent capitalists. When the Chancellor entered the House yesterday for the purpose of delivering his speech, I was irreverent enough to say to an hon. Member sitting next to me, "Here comes the Lord High Executioner, give him a cheer; it is the last chance you will get." An unprecedented scene followed. The spectators witnessed the victim place his head resignedly upon the block, but the headsman, instead of wielding his axe, engaged in a dissertation lasting one and three-quarter hours on the kind of conduct to be observed during the reprieve and hinted at blessings to be enjoyed in the hereafter. The result had a most heartening effect upon the Committee, and on the country as a whole, as showing the Government's determination—and this was the most prominent feature of his speech—to re-establish our export trade by vigorously making preparations here and now.

May I congratulate the Chancellor upon the buoyancy of the revenue? I really think it is remarkable how, year after year, it stands up. I think the wider sweep of the Income Tax has brought its reward, and there is also the success of the apparatus provided by this House for dealing with tax evasion which is now beginning to show concrete results. I think, too, that we might pay a tribute to one often forgotten—the indirect taxpayer, the humble consumer of tea—whom I put at the head of the list for the purpose of record, in the absence of the Noble Lady the Member for Sutton (Viscountess Astor) and of the Liberal Party—and also the consumers of beer and tobacco, so many of whom, as we were told yesterday, will shortly be leaving our shores, and who have made, during the past 12 months, a huge gift to the Exchequer by their consumption, without placing any problems of repayment, interest or sinking fund upon the shoulders of posterity. The goose, which no longer lays golden eggs but lays paper eggs, is showing amazing toughness in its constitution. It is upon this that our post-war social and economic structure must depend, and I want to ask the Chancellor a definite question about our post-war policy, because I am still in a little doubt about it in spite of his declaration yesterday. Is the Government now committed to an expansionist policy? Recent proceedings in this House, regarding a national health service, education machinery and housing, suggest that it is, to say nothing of the reforms based on the proposals of Sir William Beveridge. Yet every day that the war lasts jeopardises the chance of that policy coming into effect by increasing the cost of servicing Government loans.

At this stage, I wish to insert one question which perhaps the Financial Secretary to the Treasury, who I understand will reply, might be able to answer. When is the post-war credit, or nest egg, to be paid? In homely language, when does the taxpayer touch? Many people are making plans on the assumption that they are going to draw hard cash immediately the fighting ends, in regard to their postwar credits. I believe I am right in saying, that, at the conclusion of the last war, the official termination of hostilities was declared by Order in Council, which said: "The war has now ended." That Order in Council did not appear until 1921. It was approximately three years after the cessation of hostilities. Are we to have a similar procedure? If so, I think the country should know now, because many people are making plans on the assumption that they are going to draw this post-war credit almost immediately the fighting is over.