§ Mr. JOYNSON-HICKSasked the Chancellor of the Exchequer whether he is aware that about £250,000 has been spent in the preparation of Trafford Park for development, little of which sum would obtain exemption as roads or sewers under Clause 10 of the Finance Bill; and, if so, what steps he proposes to take to prevent such estate incurring the Undeveloped Land Tax, in view of the terms of Clause 10 as now amended?
§ Mr. HOBHOUSEI may remind the hon. Member that under Clause 14, Subsection 4 (a) the Commissioners are to allow as deductions from the site value of any land any part of the value which is proved to be directly attributable to works executed for the purpose of improving the value of the land as building land or for any business, trade, or industry other than agriculture.
§ Mr. JOYNSON-HICKSBy Clause 10 last week that was limited to expenditure within 10 years. Is the right hon. Gentleman not aware that the bulk of the Trafford Park expenditure was incurred before the 10 years?
§ Mr. HOBHOUSENo, I am not at all aware of the last statement. I am informed that the deductions which are mentioned in Clause 14 practically relieved the Trafford Park estate of all that it is entitled to be relieved of.