Mr. GUINNESS:

My attention had not previously been called to the practice to which the hon. Member refers, but I do not think that the transactions which he describes could be held to involve liability to Income Tax on the part of the shareholders. A saving effected by the purchase of goods on favourable terms does not create a taxable profit, and in this connection I would point out to the hon. Member that it is not sought to charge Income Tax on the so-called dividends (or "discounts") on purchases which a co-operative society distributes to its members.