§ MR. EWARTwished to put a question to the Chancellor of the Exchequer on the subject of certain exemptions from stamp duties, which it was hoped that the Government would extend to Building Societies. By some parties it was expected that the duties charged upon the transfer of land would, in the case of those societies, be wholly remitted. But whatever was intended to be done, of this there could be no doubt—that much advantage would accrue to the parties interested by a clear understanding as to what they had really to expect; and he hoped, therefore, that the right hon. Gentleman would state his intentions to the House.
The CHANCELLOR OF THE EXCHEQUERwished, with the least possible delay, to put an end to all uncertainty upon the point. It was thought highly desirable that every facility should be given to building societies in the purchase of small tenements; and the House had therefore exempted their share certificates and transfers from any stamp duties; but it was not intended to establish any exemption in favour of the conveyances of land which might be effected by or to them, because the expenses of conveyances were shared by many in the case of a society, and paid by individuals in other cases; therefore the costs of conveyances were scarcely felt by those societies, whereas the exemption of their shares from stamp duties was a great boon.