§ MR. CUBITTasked Mr. Chancellor of the Exchequer, If he can give any estimate of the annual income arising from the endowments of charities in Great Britain, and what addition would consequently be made to the yield of the Property Tax if the Motion of the honourable Member for South Essex carried on Friday, April 21st, were put into operation?
§ THE CHANCELLOR OF THE EXCHEQUERsaid, in reply, that he was sorry to say that he could not give as satisfactory an answer to the Question of the hon. Member as he could wish. He had obtained Returns from the Inland Revenue and the Charity Commissioners which substantially coincided. The income of the charities was £2,120,000 per annum, and on that sum the income tax, at 4d. in the pound, would be £35,332, and at 6d. would be £53,000. But these Returns were very defective. They did not include any Roman Catholic or Jewish charities; they did not include the metropolitan and other hospitals throughout the City; and they did not include the Universities, or the Colleges in the different Universities.