Post-War Income Tax on Industry

Part of the debate – in the House of Commons on 25th April 1944.

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I must emphasise that I am addressing myself to Income Tax in the post-war period, and the proposals which I make will not come into effect until the return to peace-time production sets in. I think the Committee will agree that I should indicate my intentions now in outline, if not in full detail, in order that industry may make their plans for reconstruction in the light of that knowledge. There are many details to be filled in before we can see the translation of our policy into statutory form, and my advisers are now engaged on this task. My intention is to propose legislation on the subject in good time, so as to enable us to bring the new arrangements into force speedily on the termination of hostilities.