MR. GIBSON BOWLESI beg to ask the Chancellor of the Exchequer whether he can state, either exactly or approximately, as regards the property whereon Death Duties were levied in 1891–2, amounting in all to £241,453,000, what amount of that sum represented realty passing in fee simple on which Succession Duty was levied, and what amount thereof represented personalty in respect of which Succession Duty was levied; and whether he will inform the House what portion of his estimated increased receipt from Death Duties of £3,500,000, or £4,000,000, will be represented by the increased receipts arising from Succession Duty being charged on the principal value of realty passing in fee simple instead of being charged as heretofore on the value of an annuity?
§ SIR W. HARCOURTNO recent statistics are available; but applying to the present figures the proportions discovered by an analysis made by the Legacy Duty Office some time ago, the amount of realty passing in fee simple on which Succession Duty was levied would be about £25,000,000, and the amount of personalty on which Succession Duty was levied would be about £10,000,000. It is only possible to estimate approximately, but in round figures we anticipate that the increase of receipts arising from the change referred to will be slightly over £100,000. The hon. Member will, of course, bear in mind that under our proposals a great deal of realty now paying Succession Duty will become exempt, because it passes to lineals, and the payment of Estate Duty will therefore exempt it from Succession Duty.