INADEQUATE AMENDMENTS.
In response to the storm of criticism aroused in business circles by the inquisitorial and interfering character of the Finance Bill proposals, Mr. Churchill has tabled a number of amendments which, however, arc not considered to go anything like far enough. It is true an important modification is promised in connexion with the objection- able clauses which give power to Government officials to interfere with matters of domestic company finances, inasmuch as all companies whose shares are quoted on the Stock Exchange or in which the ordinary investor is interested to a reasonable extent are excluded from its scope, as also are subsidiary companies. But even so, the result is to make Income Tax and Super Tax law considerably more complicated, for all the objectionable provisions remain and it is left to the individual to prove that he comes under the exemptions in order to obtain relief.
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