FARMERS' PROFITS Sta,—Recent official statistics showed that the incomes of
farmers in this country last year exceeded by 22 per cent. their incomes of the previous year. This disclosure occasions more surprise to farmers than to anyone else. When& was this information obtained ? The only possible source appears to be the farmers' income-tar returns. If this be true, then we have here another frightening example of the mendacity of modern statistics. Until last year a large proportion of farmers (the gross annual value • of whose lands did not exceed £100) were not com- pelled to disclose their actual profits at all, but could elect to be taxed under Schedule B, whereunder the basis of assessment was three times the gross annual value of their lands irrespective of the profits actually made. When last year they were all taxed under Schedule D, naturally profits which had previously been concealed came. to light, although farmers, far from making more, have actually made considerably less. I should be glad if some official source would confirm or deny that this accounts for the 22 per cent. increase.—Yours faithfully, Edgarley Manor, Glastonbury, Somerset. JULIAN MARSH.
Previous page
