§ THE CHANCELLOR OF THE EXCHEQUER, in moving for leave to bring in a Bill to relieve the holders of certain Leases from Stamp Duty chargeable thereon by Law, and to reduce the Stamp Duty on certain other Leases of the same description, said, that in pursuance of the pledge he gave a few days ago in reference to the statement which had been made respecting the law concerning stamps on building leases, he had instituted inquiries into the subject, and had, in consequence, been satisfied he might not do complete justice by doing that which he had previously thought would be sufficient—namely, limiting the indemnity to the period when the Board decided on making the adjudication. He had considered the case carefully, and was now convinced that the indemnity must extend to the period when the decision was pronounced by the Court of Exchequer, and the object of the present measure was to extend it. Then it was necessary to provide for future cases. The House was aware that he was under an engagement to bring in a Bill on the Stamp Laws, and it was necessary to bridge over the period between the introduction of that Bill and the present 1235 time. He had, therefore, anticipated matters, and as that Bill would contain a clause reducing the stamp duty on building leases from 35s. to 10s., he had thought it convenient to make that reduction by the present Bill, instead of leaving the duty at 35s. in the interval. The measure which he now asked for leave to introduce contained two clauses, the first extending the indemnity to the time the decision was pronounced by the Court of Exchequer, and the second fixing the duty on building leases at 10s. instead of 35s.
§ MR. BOURKEexpressed his satisfaction at the announcement of the Chancellor of the Exchequer. He was glad that the right hon. Gentleman acted on the suggestions he had thrown out; but he reserved to himself the right of making any observations he might deem proper when the Bill was introduced.
§ MR. DODDSalso expressed his gratification at the measure to be introduced; by the right hon. Gentleman.
§
Motion agreed to.
Bill to relieve the holders of certain Leases from a Stamp Duty chargeable thereon by Law, and to reduce the Stamp Duty on certain other; Leases of the same description, ordered to be brought in by Mr. CHANCELLOR of the EXCHEQUER and Mr. STANSFELD.
Bill presented, and read the first time. [Bill 59.]
§ House adjourned at half after Twelve o'clock.