§ 8. Mr. Sheldon
asked the Chancellor of the Exchequer what study he has made of the effects of taxation upon incentives.
§ Mr. Diamond
I am writing to my hon. Friend about the results of my examination of previous studies of this matter.
§ Mr. Sheldon
I shall look forward very much to receiving that information. Since nearly £13,000 million is being raised by taxation, my right hon. Friend must agree that it was about time we gave this matter the consideration that I hope he has now given it.
§ Mr. Doughty
Will the right hon Gentleman tell his right hon. Friend, 961 although it is a bit late in the day to do it, that incentives are very important for the purposes of earnings, and that earnings mean taxation? If by any chance they are here next year, will the right hon. Gentleman impress on his right hon. Friend the importance of remembering this very important but simple fact?