Part of Orders of the Day — Finance Bill. – in the House of Commons at on 17 June 1925.
The right hon. Gentleman says that these Amendments are mere matters of definition and do not raise any point of substance. May I put my question in a form which may conceivably appeal to Members opposite. Take for instance a Paris frock to be worn at Ascot. The Chancellor used the figure of £40. My calculation would be a little higher. Let me assume that the frock would cost £50, that it contains £2 worth of silk, and that the aggregate value of the component parts is £10. If the value of the silk is £2 0s. 1d. that article comes into the 33⅓ per cent. category, and the tax would be over £16.