Clause 1. — ;(Charge of Income Tax for 1955–56 and Surtax Rates for 1954–55.)

Part of Orders of the Day — Finance Bill – in the House of Commons at 12:00 am on 27th April 1955.

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Photo of Mr Gilbert Mitchison Mr Gilbert Mitchison , Kettering 12:00 am, 27th April 1955

So did the Labour Government, and upon a larger scale. The very simple answer to that reminder is that what we have to consider now is what is right to be done now. The fact that the Chancellor may or may not have done some right in the past is no reason why he should discontinue to do so now, and turn from what is right to what is wrong.

It is for that reason that I object, not to the fact of the remission or to the amount of remission—for that has already been discussed—but to the fact that the money is being remitted in such a way that those who receive the greatest benefit from it are those who need it least; the limited companies and the Surtax payers. The ordinary man and woman who has returned us to Parliament, and will shortly have to do the same, or something like it, again receive the least benefit from a straight reduction in the tax rate.