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Tax Changes

Volume 486: debated on Tuesday 10 April 1951

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We have therefore to reckon with another £20 million or so to be added to the £150 million at which I previously estimated the gap. How are we to find this £170 million? Before dealing with this. I wish to refer to the report which I have recently received from the Committee under the chairmanship of Mr. Millard Tucker, K.C., which was set up by Sir Stafford Cripps to consider the taxation of trading profits. The Report, which was published last week, is a most careful document, representing the result of a great deal of hard work and thought, and I must express my warm thanks to the Chairman and members of the Committee for the valuable service they have rendered. I have not yet been able to study the recommendations in detail, and in any event I must await the reactions of industry and commerce before coming to final conclusions. Any question of legislation on the Committee's Report will therefore have to wait till next year.