asked the Chancellor of the Exchequer whether he has considered the proposals for a refund of Purchase Tax on chargeable goods held in stock by retail traders as and when remissions or reduction of tax are announced; and whether he is in a position to announce the decision he has reached on the principle involved.

The hon. and gallant Member will not expect me to anticipate my Budget Statement.

Does that mean that the right hon. Gentleman is only prepared to do justice to the retail trader once a year?