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 Dryden Brook Mr Dryden Brook , Halifax 12:00 am, 27th April 1955

As one business man to another, I can tell the hon. Gentleman that all this is very interesting. Has the hon. Gentleman reckoned out how much this 6d. will give to the small business to finance the extra stocks, the higher prices of stocks and the development of his business? The business man with a profit of£30,000 a year, which is not an inconsiderable figure, will get£750 out of this reduction in the Income Tax with which to finance all the things that the hon. Gentleman has been talking about. We must keep the thing in perspective.