§ MR. EDMUND ROBERTSON (Dundee)
I beg to ask Mr. Chancellor of the Exchequer if he will state on what principle publicans' licences are valued for the purposes of the death duties, whether the estimated selling value for the time being is taken, or what other rule is adopted; and whether he will state the highest value assigned to any licence during the last five years.
§ THE CHANCELLOR OF THE EXCHEQUER (Mr. RITCHIE,) Croydon
The value, for the purposes of the death duties, of a publican's interest in licensed premises is the amount for which such interest would sell at the time of the death. No separate record has been kept of the values assigned to 1234 such interests, and it would therefore not be possible to say what is the highest value that has been taken in any single case.