§ MR. BARTLEY (Islington, N.)I beg to ask the Chancellor of the Exchequer whether he can lay upon the Table an Estimate of the annual payment to the Exchequer which will be required from Ireland, should the Finance Bill become law, on account of the new Estate Duties from the estates of deceased occupying tenants on the principal value of the tenant-right of their holdings?
§ SIR W. HARCOURTI can make no such estimate. The probate statistics for Ireland do not show separately the amount derived from probate on the tenant-right of occupying tenants, which, being personalty, is at present subject to Probate Duty on the marketable value of the tenant-right. Should the Finance Bill become law it cannot possibly be taxed on a greater value. This applies to tenant occupiers. As regards tenant purchasers, in whose case the tenant-right is merged in the ownership, I may state, as there seems to be some misunderstanding, that the unpaid purchase-money will, of course, be a deduction from the value of their property before it is charged to the tax.
§ MR. BARTLEYCan the right hon. Gentleman give any idea of what the amount will come to, roughly speaking?
§ MR. T. W. RUSSELLAnd can he say how, unless in those cases where the specified value of the tenant-right has been fixed by the Court, such value is to be ascertained?
§ SIR W. HARCOURTI can only reply that there is no separate account of the value procurable.