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

The hon. and learned Gentleman thinks that it is only 18 months. I think that it is four years, but it does not matter to my argument. There is now, and has been for some time, a rising cost of living. Surely we are agreed about that.

There are only two ways in which we can deal with that, assuming that we are unable to bring the prices down. One is to increase wages and the other—