PUBLIC RECORD OFFICE
C.O.885
Reference :-
18 PUBLIC RECORD OFFICE, LONDON
ALLY WITHOUT PERMISSION OF THE BE REPRODUCED PHOTOGRAPHIC-
COPYRIGHT PHOTOGRAPH-NOT TO
Fourteenth Day.
9 May 1907.
112
Dr. SMARTT: Yes, I suppose so.
Mr. WINSTON CHURCHILL: It is not much good to have a resolution NAVAL DEFENCE at all if we cannot be unanimous.
DOUBLE INCOME
TAX.
CHAIRMAN: I think we had better not proceed any further just now.
Sir WILFRID LAURIER: We, of the different Dominions beyond the Seas, have tried to be unanimous up to the present time. I am sorry to say this is a question upon which we could not be unanimous. Therefore, Dr. Smartt can move it if he chooses, or withdraw it. But if he presses it I should have to vote against it.
Dr. SMARTT: I am absolutely in the hands of the Conference. I do not want to press a resolution that is not likely to meet with the general approval of practically everybody on the Conference, especially a resolution of this particular character. We might, perhaps, let it stand over until the next sitting. Between this and Tuesday I may be able to modify it in soine way to meet Sir Wilfrid's view.
DOUBLE INCOME TAX.
CHAIRMAN: The two questions the Chancellor of the Exchequer has come about are, the double income tax and as to the profit on silver coinage. I understand it has been discussed already.
Mr. ASQUITH: Dr. Jameson, Dr. Smartt, and others were there and discussed it with me.
Sir JOSEPH WARD: Is it necessary to go over the discussion again? We have had it before.
Mr. ASQUITH: I hope not.
Dr. SMARTT: I understand the discussion we had before was printed and will be forwarded to the Conference.
Mr. ASQUITH: It is to be taken as part of the proceedings of the Conference and therefore we need not go over that ground again.
Dr. SMARTT: We hold equally strongly the views we expressed the other day. We only hope you may have modified yours since then.
Mr. ASQUITH: I am afraid I hold the same view, I expressed then and therefore we must agree to differ about it.
CHAIRMAN: I only put it on the agenda because that was understood. Mr. ASQUITH: Yes, it is right to raise it again, but it must be taken as we left it the other day.
Dr. SMARTT: You consider no further discussion will bring you any nearer to what is our idea of what is fair.
Mr. ASQUITH: I am afraid not. It goes to the very root of our income tax law whether right or wrong.
* See pp. 183-190.
113
Dr. SMARTT: As this memorandum is going to be submitted to the Conference and will form a portion of the Conference proceedings, though the Chancellor of the Exchequer is not in accordance with our views, would not it be advisable to take the views of the Conference on the question?
Mr. ASQUITH: If you please...
Dr. SMARTT: So that it is tabulated what the views of the various portions of the Empire are on the question.
Mr. F. R. MOOR: I want to say that I have not heard any of the arguments addressed either by the British Government or the Colonies, because I understood this was a sub-committee which was going to discuss the question particularly concerning those immediately interested. I think if Mr. Asquith could just give us in a few words his reasons it would be valuable.
Mr. ASQUITHI: Lam afraid Dr. Smartt would not be content without adding his few words-quite rightly and then we should go over the whole ground again. It was with the object of saving time in that respect that we had what I call a sub-Conference on this subject.
Dr. SMARTT : The reason also was that it was referred to this Conference. Having had a discussion in your Department, we should take the opinion of the Conference upon this question, as the opinion of the Conference might in the future weigh upon the mind of the Chancellor of the Exchequer.
CHAIRMAN: The proceedings of that meeting have been circulated.
Sir JOSEPH WARD: It seems to me that a reading of the proceedings of the Committed by the different gentlemen not on the Committee will give them the view put on record by the Chancellor of the Exchequer, in which he pointed out it was not possible for the British Government to give effect to some of the suggestions made. The very fact of that being so, whatever opinions might be expressed here-they are mere expressions of opinion-- cannot alter it, and we would not gain anything by re-discussing it. It is all on record in these proceedings.
แ
Dr. SMARTT: But the vote of the Conference is not on record on that particular matter. I want simply to take the opinion of the Conference.
Mr. ASQUITH: I have no objection if you think it serves any useful purpose.
CHAIRMAN: You want the opinion of the Conference as to whether they agree with your resolution or not?
Dr. SMARTT: Yes.
CHAIRMAN: I can ask the Conference that. The resolution is "That "this Conference is of opinion that shareholders, resident in British Colonies, " of companies which are already liable to Colonial income tax payments, "should be exempted from similar taxation in the United Kingdom, and strongly urges His Majesty's Government to adopt, at the earliest possible date, the legislation necessary to give effect to such exemption.”
I 49446,
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Fourteenth Day.
9 May 1907.
DOUBLE INCOME TAX.
1