17 DECEMBER 1921, Page 3

The Chancellor of the Exchequer, speaking at Newcastle last Saturday,

promised to include in his next Budget a scheme for enabling arrears of Excess Profits Duty to be paid gradually within the next five years, with interest at five per cent. The scheme would probably help some firms to escape bankruptcy. On the other hand, it is generally thought that the Chancellor will be called upon to repay rather than to receive large sums under this head, for many firms of late have sustained losses that exceed their excess profits during the War and since.