Payments to Directors (Taxation)

Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 13 December 1949.

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Photo of Captain Albert Blackburn Captain Albert Blackburn , Birmingham King's Norton 12:00, 13 December 1949

asked the Chancellor of the Exchequer whether he will now formally indicate his intention that he will introduce into his next Budget a provision whereby payments made to directors of companies in consideration of their agreement not to become directors of other companies, will be treated as income, and not as a capital payment.

Photo of Sir Stafford Cripps Sir Stafford Cripps , Bristol East

As my right hon. Friend explained to my hon. Friend the Member for Aston (Mr. Wyatt) on 24th November, I am looking into this matter, but I cannot anticipate my Budget statement.

Photo of Captain Albert Blackburn Captain Albert Blackburn , Birmingham King's Norton

Is my right hon. and learned Friend aware that I hoped that he could anticipate that he will himself be making the next Budget statement; and, secondly, in all these circumstances would he not consider setting up a committee to inquire into tax evasion?