House of Commons debates

Monday, 7 April 1941

  • Preamble

    The House being met, the Clerk at the Table informed the House of the unavoidable absence, through indisposition, of MR. SPEAKER from this Day's Sitting. Whereupon Sir DENNIS HERBERT, the...

  • EMERGENCY POWERS (DEFENCE) ACTS, 1939 and 1940.

    The VICE-CHAMBERLAIN OF THE HOUSEHOLD (Major Sir JAMES EDMONDSON) reported His Majesty's Answer to the Address, as followeth:

  • Private Business.

  • Business of the House.

    Ordered, ''That the Proceedings on Government Business be exempted at this day's Sitting from the provisions of the Standing Order (Sittings of the House)." —[Mr Attle.]

  • Preamble

    The House being met, the Clerk at the Table informed the House of the unavoidable absence, through indisposition, of MR. SPEAKER from this Day's Sitting. Whereupon Sir DENNIS HERBERT, the...

  • Orders of the Day — Ways and Means.

    Considered in Committee.

    • Financial Statement.

      1 speech

      It has been the practice for many years for the Chancellor of the Exchequer, in introducing his Budget, first to make to the Committee a careful and detailed statement and examination of the...

    • Review of 1940–41.

      With that general background in our minds, the Committee will perhaps allow me to pass fairly rapidly in review certain features of expenditure and revenue in the past financial year. On the...

      National Debt.

      The last figure brings me to the changes in the National Debt during the year. In addition to covering the deficit, we also had to borrow, among other purposes, to provide £104,000,000 to...

      The New Financial White Paper.

      All this does not, I feel, give a complete picture to enable Parliament to form a constructive judgment of our position and of our financial policy. I would prefer to examine in broad outline the...

      Prospect for 1941–42.

      Now it is time for me to turn to the future. In estimating total expenditure, not only am I faced with the difficulties of looking so far ahead as 12 months, but also there is this year the most...

      Estimated Revenue, 1941–42.

      Let me now turn to the revenue side of the accounts. As regards Inland Revenue Duties, on the basis of the existing rates of tax I assume that the yield of Income Tax will be £605,000,000 in...

      Miscellaneous Amendments.

      Before I deal with the major financial problems of the year, there are certain miscellaneous matters of which it would be convenient for me to dispose at this stage. The £4 per cwt. duty on...

      Excess Profits Tax.

      2 speeches

      I now come to the Excess Profits Tax. The general principle of the tax commends itself to all sections of opinion but there have been many representations regarding the ill-effects of the 100 per...

      Control of Prices.

      Before I develop my proposal for dealing with that gap, there is another very important matter to which I must now refer—a matter which is very relevant to any consideration of the question...

      Savings and Taxation in 1941–42.

      Now I must return to the actual problem presented to me by the potential inflationary gap which, as the Committee will remember, I place in the neighbourhood of £500,000,000. I must first...

      Taxation Proposals Examined but Rejected.

      I need hardly assure the Committee that I have given anxious consideration as to how this additional taxation should be fairly imposed and how the burdens can best be borne. In July last I told...

      Income Tax Changes.

      I have come to the conclusion that in the circumstances and needs of to-day I must look to direct taxation, covering all sections of the community, to raise the necessary revenue. The burden...

      Conclusion.

      My immediate task is finished. In time of war the various Departments associated with the war effort take, and ought to take, all that is required to enable us successfully to prosecute the war....

      Customs.

      Hops, etc., and Beer.

      Resolved, That the period for which the following duties of Customs are chargeable (which expires on the fifteenth day of August, nineteen hundred and forty-one) shall be extended by four years,...

      Income Tax.

      Charge of Tax.

      Resolved, That— (a)Income Tax for the year 41–42 shall be charged at the standard rate of ten shillings in the pound, and, in the case of an individual whose total income exceeds one...

      Higher Rates of Income Tax for 1940–41.

      Resolved, That Income Tax for the year 1940–41 shall be charged at rates exceeding the standard rate in the case of individuals whose total income exceed two thousand pounds, and those rate...

      Reliefs and Exemption from Tax.

      Resolved, That the following enactments relating to reliefs and exemption from tax shall be amended as Parliament may provide by any Act of the present Session relating to Income Tax, namely:...

      Farming.

      Resolved, That farming (including the occupation of lards as nurseries and market gardens) shall be taxed as a trade under Schedule D, in accordance with such provisions as Parliament may...

      Concentration of Industry.

      Resolved, That the trades of the persons who are parties to arrangements for concentrating industry or business in the hands of fewer persons shall be treated for Income Tax purposes as...

      Payments in Respect of War Injuries to Employees.

      Resolved, That in computing profits or gains or total income for any Income Tax purpose, no deduction shall be made for payments to or in respect of employees who sustain war injuries or for...

      Assessments Under Schedule a.

      Resolved, That— (a) assessments made under Rule 8 of No. VII of Schedule A shall be valid although not made on the person who should have been assessed;(b)further provision shall be made as...

      Rents Under Long Leases, etc., in Scotland.

      Resolved, That any payment made in respect of land in Scotland for a period ending on the fifteenth day of May in any year, being a payment to which Section seventeen of the Finance Act, 1940...

      Miscellaneous.

      Excess Profits Tax.

      Resolved, That the extent and incidence of Excess Profits Tax (for past and future chargeable accounting periods) shall be varied so as to give effect: — (a)to amendments as to standard...

      National Defence Contribution

      Resolved, That the extent and incidence of the National Defence Contribution (for past and future chargeable accounting periods) shall be varied so as to give effect to amendments as to the...

      Power to Borrow for Certain Financial Purposes.

      Resolved, That the whole or any part of the sums required for the current financial year for the purposes mentioned in paragraph (a) or paragraph (b) of Sub-section (4) of Section twenty-three...

      Amendment of Law.

      22 speeches

      Motion made, and Question proposed, That it is expedient to amend the law relating to the National Debt and the public revenue, and to make further provision in connection with finance....

What is this?

Debates in the House of Commons are an opportunity for MPs from all parties to scrutinise government legislation and raise important local, national or topical issues.

And sometimes to shout at each other.

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