§ Mr. REESasked the Chancellor of the Exchequer whether a park possessing a value over and above its agricultural value, of which the owner cannot legally dispose, would be subject to Undeveloped Land Duty in respect of such other than agricultural value?
§ Mr. HOBHOUSEUndeveloped Land Duty will be chargeable in any case which is not covered by the exemptions contained in the Finance Bill. The question of the incidence of the duty in the case of settled land is provided for in Clause 26.
§ Mr. REESasked the Chancellor of the Exchequer whether private parks situated in the immediate vicinity of towns, and on that account possessing a value over and above their value as agricultural land, will be liable to Undeveloped Land Duty 1522 in cases in which they contribute more to public amenities and public recreation as private parks than they would if cut up for building land; and whether the fact that an owner allows the public a reasonable though restricted use of any particular park will affect in any way its liability to be taxed as undeveloped land?
§ Mr. HOBHOUSEI think my hon. Friend will recognise that it is scareely practicable for my right hon. Friend to say exactly what the application of the tax will be in hypothetical cases of this kind. He will find the exemptions from Undeveloped Land Duty which it is proposed to admit fully set forth in Clause 11 of the Finance Bill.