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 R.A. Butler Mr R.A. Butler , Saffron Walden 12:00 am, 27th April 1955

I did consider that very seriously, but it has to be remembered that in the case of undistributed profits the benefit accrues only after a year—it takes a year to accrue. I did not think that that would be immediate enough for the economy.