§ SIR E. J. REED (Cardiff)I beg to ask the Chancellor of the Exchequer whether his attention has been called to a decision of June, 1890, in the case of the "Aberdeen Commissioners of Supply v. Russell," from which it appears that, inasmuch as the money expended upon the buildings of a Public Library and Museum is a mortgage on the rates and not on the buildings, Income Tax must be paid upon the annual value of the buildings, in addition to the tax on the annual payment for interest, that is to say, the tax will have to be paid twice upon one set of buildings; whether he is aware that, with a maximum 1d. rate under the existing law, the income is barely sufficient, in the case of Cardiff and other large towns, to keep the institution going; and whether, under these circumstances, he will introduce a clause in the Bill now before the House, for excepting such Public Libraries and Museums from the payment of Income Tax under Schedule A, and thus relieve these very important Public Institutions from the evil which threatens them?
§ THE CHANCELLOR OF THE EXCHEQUER (Mr. GOSCHEN,) St. George's, Hanover SquareI understand that a test case will probably be brought before the High Court, and the hon. Member will see that it would be premature to consider whether the law should be altered until the High Court has definitely decided what the law is.