§ CAPTAIN PRETYMAN (Suffolk, Woodbridge)I beg to ask the Chancellor of the Exchequer whether, considering the various interpretations which have been placed upon Section 2, Sub-section (1) (b) of the Finance Act, 1894, by the Revenue Department, and the desirability of ascertaining the proper interpretation of the sub-section in regard to the liability to Estate Duty of settled property, the deceased's life interest in which has been transferred to the reversioner more than 12 months prior to death, he is prepared to obtain the decision of the Courts of Law upon that point by submitting to them a test case, the costs of both parties to which shall be borne by the Exchequer; and if he will in the same manner ascertain the present state of the law in cases where a life interest has been extinguished on the occasion of the barring of an entail?
§ THE CHANCELLOR OF THE EXCHEQUERThe questions raised are of such special importance, and have given rise to so much difference of opinion, that, if a case arises in which the general principle can be submitted to the Court and an authoritative decision obtained in order to settle the law, I shall be prepared to pay the reasonable costs of both sides. This course, however, is one which I can only adopt under very exceptional circumstances, and must not be taken as a precedent.
MR. GIBSON BOWLES (Lynn Regis)Will the right hon. Gentleman say in the meantime whether he will 665 direct the Commissioners of Inland Revenue to inform the parties beforehand, so that they may avail themselves of his proposal?
§ THE CHANCELLOR OF THE EXCHEQUERThere are several cases waiting to be heard.
§ CAPTAIN PRETYMANIn view of the reply of my hon. right Friend, I shall withdraw the Amendment that stands in my name to the Finance Bill.