The Chancellor of the Exchequer ,in pursuance of notice, rose to move for leave to bring in a bill to amend the Property Act. One of his objects, he said, was, to give more effect to the regulations respecting the abatements; another was, to make some new provisions relative to leases for lives. It was also proposed to have a separate provision with respect to charitable corporations. There were also some minor regulations, unnecessary to be stated, as he meant, as soon as he had introduced the bill, to move for its being printed.
§ Mr. Foxhoped that some means would be taken to render the abatements less inconvenient with regard to persons who had annuities. Those who paid such annuities, made it a general rule to deduct the 5 percent. without considering whether the annuitant was a person who was entitled to the benefit of the abatements. Probably the right hon. gent. had this in view; if not he wished to suggest it to him.— After a few words from Mr. Calvert, 224 who thought the exemption should be secured to charities under 601.; and Mr. Bastard, Who thought the farmer should pay only for his actual profits, and not for his estimated profits according to the calculation of the commissioners on the rent, leave was given to bring in a bill to repeal certain provisions of the act, and to consolidate and render it more effectual.
The Chancellor of the Exchequersaid it was his wish that the bill should be read a first and second time, and then printed, to be considered during the holidays. The new regulation would be incorporated with those of the former ones that were suffered to remain, so that there would be but one bill on the subject. The chairman reported, and the resolution was agreed to by the house.