§ MR. WHITBREAD (Huntingdonshire, Huntingdon)
To ask the Prime Minister whether, in the event of the Licensing Bill becoming law, the Inland Revenue authorities will, in determining the value of brewery property for probate and estate duty, be instructed to accept approved estimates of the gross value of such properties, based, during the time-limit, upon the compensation proposals contained in Section 10 of the Licensing Bill.
(Answered by Mr. Asquith.) The value of property, brewery and otherwise, for the purpose of estate duty is the market value at the date of death. This principle will not be in any way affected by the proposals contained in the Licensing Bill.