§ MR. BOULTON (Huntingdonshire, Ramsey)To ask Mr. Chancellor of the Exchequer if there is any special basis provided by statute for valuing licensed houses for the purpose of Estate Duty; and, if not, does the valuation of licensed houses for this purpose come under the 1243 general rule applicable to all property, and which is laid down by subsection (5) of Section 7 of the Finance Act, 1894, namely, the principal value of any property shall be estimated to be the price which in the opinion of the Commissioners such property would fetch if sold in the open market at the time of the decease.
(Answered by Mr. Lloyd-George). The Answer to the first part of my hon. friend's Question is in the negative, and to the second in the affirmative.