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 Samuel Silverman Mr Samuel Silverman , Nelson and Colne 12:00 am, 27th April 1955

I am not an economist or a business man. I approach the questions raised in the Bill from what I think may be the point of view of the man in the street, whether professional or working.

There was an interesting discussion during the debate on the Budget Resolutions whether the proposals were a handout by the Government to the privileged few or were an election bait held out to the many. Government speakers were inclined to taunt my right hon. and hon. Friends with confusion of mind, saying that we could not make up our minds which of those two conflicting interpretations was really in the mind of the Government. In an attempt—a vain attempt, as it turned out—to clear up the confusion, I asked the Financial Secretary to the Treasury which he said it was. The answer was that he did not know.