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Export Incentives

Volume 648: debated on Wednesday 8 November 1961

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asked the Chancellor of the Exchequer, in view of the negotiations which are proceeding for the entry of the United Kingdom into the Common Market, if he will seek information about the financial incentives which are given to exporters in countries which are members of the Common Market and the percentage of turnover tax remitted in those countries on that part of a company's business represented by exports; and, having regard to the necessity for export incentives, if he will consider the desirability of a turnover tax, reducing Profits Tax proportionately, and remitting the whole of such turnover tax on that part of a company's trading which is represented by exports.

Her Majesty's Government have already collected a wide range of information of this kind and they are keeping in close touch with developments. The answer to the second part of the Question is that consideration is constantly being given to various means, including fiscal changes, of expanding exports.