Clause 24. — (Rates of Profits Tax, etc.)

Part of the debate – in the House of Commons at 12:00 am on 11 June 1951.

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Photo of Sir Ronald Bell Sir Ronald Bell , Buckinghamshire South 12:00, 11 June 1951

The hon. Gentleman is merely underlining what I said—that one cannot base an argument on an individual case. My hon. Friend instanced that company as one which showed a rather dramatic increase in the total amount of taxation on a falling income. The fact that it also paid dividends which were not entirely negligible does not make this particular case bear out the implications which the hon. Gentleman was trying to apply to it.

I have known from experience individual owners of rent restricted property who have actually been out of pocket. If one looks at one individual case one might look at others. I have known of cases where the property was subject to a landlord's covenant of repair, and when that covenant was discharged—and it could be enforced in the courts—the landlord was actually out of pocket year by year.