Orders of the Day — Profits Tax Bill
Mr Daniel Lipson (Cheltenham)
No, I said that everybody will have to bear their share of the sacrifices that will have to be made, and I understand that that is not in dispute. There is no section of the community that is exempt. But this is a special additional burden placed upon one section of the community.
I oppose this tax because I believe that psychologically, it is a bad tax. It is not really in the interests of the workers of this country that this tax should be imposed, though we are told that it has been done to satisfy them. I consider that this tax is not likely to help our export trade, but may even possibly damage it, is because it is common knowledge that we want as many industries as possible to divert their business into the dollar market. We can all agree upon that, but there are certain industries which at present find it easier to make profits if they go into the soft currency markets.