Mr. DOUGLAS (Weybum):
Under paragraph (a), as I understand it, a firm that had gone through a depressed period during the standard years could make application for a board of referees, and the profit could be set at not less than 5 per cent and not more than 10 per cent. Why could not the same principle be applied to a firm which had obtained an exceptionally good return during those standard years? For instance, a firm producing minerals or metals used in the rearmament programmes of the different countries during the last five or six years would have had very high profits, which they would not be likely to exceed during the present period. Why could not the same principle be applied to them? If you are setting up a minimum, why not set up a maximum also?
Topic: EXCESS PROFITS TAX ACT