Clause 4

Part of Orders of the Day — Finance Bill – in the House of Commons at 12:00 am on 10 April 1973.

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I should have thought that we would all want to assist and help a body to which Governments have at all times in the past been helpful. Now we have this extraordinary situation of a body being driven to try to find ways out of its difficulty by the absurd proposal to form a whole mass of separate companies. I think it illustrates the absolute madness of some of the implications of the tax. I do not necessarily rule out the tax automatically from all spheres of activity but any application that can result in this type of situation cannot but be condemned by all of us.