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Cotton-Spinning Industry (Taxation)

Volume 161: debated on Tuesday 13 March 1923

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asked the Chancellor of the Exchequer if he is aware that, owing to the conditions of taxation now obtaining, all persons in the cotton-spinning industry are paying away capital in taxes; that, the cost of taxation on cotton yarn is 12 times heavier than any other cotton-spinning country in the world; and what he proposes to do to remedy the same?

I am aware of the many difficulties, including those arising from taxation, under which the cotton-spinning industry, in common with other staple industries of the country, is now labouring. They can, however, be discussed more conveniently in the Debates on the forthcoming Budget than by way of question and answer.