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Ept Refund (Surplus Plant Purchase)

Volume 416: debated on Thursday 29 November 1945

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asked the Chancellor of the Exchequer if the Excess Profits Tax postwar refund of 20 per cent., less Income Tax, may be used immediately in the purchase of surplus plant from Government Departments and for the purchase of factories made available forcivilian use by Government Departments; and if the purchase price may be set off against the above-mentioned refund in appropriate cases.

I see no objection in principle to such an arrangement, and I have no doubt that the disposal Departments will be ready, in co-operation with the Inland Revenue, to make the necessary arrangements.