Clause 27. — (Effect of Capitalisation of Profits on Rate of Profits Tax.)

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

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Photo of Sir Charles Taylor Sir Charles Taylor , Eastbourne 12:00, 11 June 1951

I hate to admit this, Mr. Diamond, but I read the Amendment carefully and I thought it pretty well covered any reduction of capital which might be made under Clause 27. I submit that as the case of redeemable preference shares has already been raised, both by the mover of the Amendment and by the Attorney-General, I should be in order in bringing forward this matter.