Surtax Rates for 1972–73

Part of Clause 10 – in the House of Commons at 12:00 am on 11 April 1973.

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Photo of Mr Brian Walden Mr Brian Walden , Birmingham All Saints 12:00, 11 April 1973

Let me put this to the hon. and learned Member, because it may be a point which interests him, although it is not particularly partisan. He may be wrong in regarding those events as necessarily disastrous for economic performance. I noted with great interest that the Hudson Institute, when it made its predictions about France, specifically said that it was the traumas which French society had undergone which had produced its rate of capital accretion. It specifically said that our major disadvantage was that we had not gone through a similar trauma. I would suggest that perhaps it is not so easy as it looks.