Interest on Arrears of Excess Profits Duty.

Part of Income Tax. – in the House of Commons at on 8 May 1922.

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Photo of Sir Robert Horne Sir Robert Horne , Glasgow Hillhead

I will tell my hon. and gallant Friend if he will give me a moment. At the present time we require revenue, and these duties yield a million and a half—the estimate for the current year. Is that nothing? That million and a half represents 1d. of the Tea Duty. Is that not worth while? Is a duty which yields that sum as revenue, and which enables you to take 1d. off the Tea Duty, not worth while? Would my hon. and gallant Friend speak against it before his constituency in order to maintain the pure doctrine of Free Trade? That is the proposition which he has to face. If he is not prepared to maintain that proposition then his arguments are of no value whatsoever. I put it to him that that is the basis of the position he has to maintain before his constituents.