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Purchase Tax

Volume 463: debated on Wednesday 6 April 1949

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I now turn to rather more important changes. But I should first make it clear that we cannot afford any change at all in the Purchase Tax in this Budget. I recognise that there is a problem about retail stocks, when the time does come for a reduction in the level of the Purchase Tax. I shall do my best, therefore, to work out, during this year, some means for meeting this problem, and thus getting rid of, or at any rate diminishing, whatever hold-up of trade in articles subject to Purchase Tax can be attributed to the financial effect upon traders of changes in the tax.