BRITISH FINANCE BILL
PRESENTATION THIS WEEK
OPPOSITION TO PROFITS TAX
LONDON, May 22. Next week may see a critical phase in commercial recovery. The Chancellor of the Exchequer, Mr. Neville" Chamberlain, will present to Parliament his Finance Bill, in which, he will detail the national defence contribution plans. Strong representations which have been made must have convinced him that every department of industry and commerce is solidly against the tax as it stands at present. The Associated Chambers of Commerce led the way, stressing the inequities created by the base period and also fortuitous differences in the capital structure of various companies. The shipbuilders' organisation followed in presenting a statistical picture of "unrelieved gloom." The "Shipowners' Parliamentary Committee was equally emphatic. Textile industries spokesmen attacked the complexities of the tax, and the Rubbergrowers' Association and base metal companies emphasised that higher minimum profits were essential in their industries owing to their speculative character.
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Bibliographic details
Evening Post, Volume CXXIII, Issue 121, 24 May 1937, Page 9
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153BRITISH FINANCE BILL Evening Post, Volume CXXIII, Issue 121, 24 May 1937, Page 9
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