§ Mr. LANE-FOXasked what is the estimated net amount that the local authorities will receive from the land taxes this year and next year?
§ Mr. HOBHOUSEIt is anticipated that the yield of the new land taxes in the current financial year will amount to £675,000, of which one-half will be handed over to the local authorities. My right hon. Friend estimates that the taxes will yield next year £1,000,000, of which the local authorities will receive the same proportion.
Mr. PIKE PEASEIn view of the statement of the Chancellor of the Exchequer the other day, in answer to a deputation that the cost of valuation would swallow up the whole of the money he is likely to receive, how much is he likely to receive this year?
§ Mr. HOBHOUSEI am entirely ignorant of the answer which is ascribed to my right hon. Friend.