§ Mr. WALTER ROCHasked the Chancellor of the Exchequer if the exceptions now made of certain properties from the incidence of the Increment Value Duty under the Finance Bill will cause any material reduction in the estimate given of the yield of this tax; and, if so, whether he will give a revised estimate of the yield of this tax?
§ Mr. HOBHOUSEMy right hon. Friend does not anticipate that the estimated yield for the current financial year of the Increment Value Duty will be materially affected by the exemptions which have been introduced into the Finance Bill. In regard to subsequent years, it is too early as yet to form a reliable estimate as to the probable yield of the tax.
§ Lord BALCARRESIs it any good making these concessions if the owner of the land does not reap the benefit of them?
§ Mr. HOBHOUSEI do not think that it has been suggested to us that the owners of land do not welcome the concessions which have been made.
§ Lord BALCARRESDid the right hon. Gentleman state that the result of these concessions would be to impoverish the Exchequer?
§ Mr. HOBHOUSENo. What he said was he does not anticipate that the estimated yield will be materially affected.