14 JUNE 1930, Page 2

A Concession on Income Tax The last day in the

House of Commons before the recess was brightened by a decision which showed that Mr. Philip Snowden can make a concession. Sir L. Worthington-Evans took exception to the proposal in the Budget to alter the rebates of Income Tax on life insurance premiums. He recalled that the rebate was one of Mr. Gladstone's favourite incentives to thrift, and suggested that to go back upon the arrangement made in 1920, whereby policies dated before 1916 were largely exempted, and the rebate on other policies was fixed at half the standard rate of Income Tax, would be a breach of con- tract with policy-holders which might have serious psychological effects. Mr. Snowden promised that the Bill should be amended in this sense.

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