Mr. NEWDEGATEasked the Chancellor of the Exchequer whether he adhered to his pronounced intention to charge an Increment Tax of 20 per cent. on the capital value of minerals when leased, sold, or passing at death; and whether he had been advised by mining experts that the incidence of this tax would hinder the development of minerals in areas where minerals had not hitherto been proved to exist?
§ Mr. HOBHOUSEMy right hon. Friend sees no reason to modify the reply which he gave to the hon. Member on this subject on the 30th ult. The answer to the second part of the question is in the negative.