Orders of the Day — Excess Profits Duty.

Part of the debate – in the House of Commons on 28th April 1920.

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Photo of Mr Albert Green Mr Albert Green , Derby

I have listened with much interest to the speeches of the Mover and Seconder of this Amendment, but I fail to see any reasonable grounds why the House should accept the proposition which has been put forward for a reduction of this duty because we have not so far had presented to the House any alternative proposition which would raise that sum of money, which is so urgently needed at the present time, and, in my opinion, there is no time so opportune in our commercial life as the present moment for raising money which is so urgently required for the reduction of the Debt upon this country. I listened with admiration to the speech in which the Chancellor of the Exchequer introduced his Budget to the House, and it seemed to me to be a matter of great congratulation on the part of hon. Members that in the second year after the War the Chancellor of the Exchequer was able to budget for £1,300,000,000 in a manner which, in my opinion, is well within the capacity of this nation to pay if we, as a nation, realise our responsibilities, and masters and men pull together, and work together in that spirit which is so desirable in order that we may, as a nation, produce more and export more, and thus produce that wealth which is so essential to pay off this great debt. What are the suggestions put forward and the criticisms which have been made upon the Budget? One was that the Chancellor of the Exchequer need not this year budget for a reduction of the Debt by £230,000,000, and that he could very well afford to wait a few years longer before he need attempt any reduction of the Debt.