Budget Resolutions and Economic Situation

Part of the debate – in the House of Commons at 12:00 am on 20 April 1970.

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Photo of Mr Selwyn Lloyd Mr Selwyn Lloyd , Wirral 12:00, 20 April 1970

It may not be passed onin toto, but to some extent it may be passed on. My other point is that the tax causes an increase in the cost of services to manufacturing industry, and that is one way taxable profits are reduced.