Law a hasty disclaimer. The House as a whole would, I think, have
liked to learn how you can do business with a person whom you do not
recognise?
The Chancellor of the Exchequer refused to accept Mr. George Terrell's
proposal to reduce the Excess Profits Tax from sixty per cent. to forty,
but, in reply to Sir G. Younger--who "has such a way wid him"--promised
that next year he would make the reduction. He admitted that it was in
many ways an unsatisfactory tax, but the Government could not afford to
part with it unless a substitute was provided. Somebody suggested
"Economy," and Sir F. Banbury proved to his own satisfaction that the
present estimates could be reduced by a hundred-and-fifty millions. But
unexpected support for the Government came from Mr. Asquith, who as the
original sponsor of the tax felt it his duty to support it.
[Illustration: SIR FREDERICK BANBURY SHOWS HOW IT'S DONE. "To produce a
saving of one hundred-and-fifty millions you merely have to hold the hat
firmly in the left hand--thus."]
There was a perfect E.P.D.mic of criticism, but it was brilliantly
countered by Mr.
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