Mr. PIKE PEASEasked the Chancellor of the Exchequer what is the aggregate site value of the land in Frankfort; and what is the average Increment Duty collected on this land during the last three years for which figures are available?
§ Mr. HOBHOUSEUnder the Frankfort tax lands and buildings are not separately assessed, and therefore the site value cannot be stated. It follows that the average Increment Duty on land, as distinct from land and buildings, cannot be given.
§ Mr. JOYNSON-HICKSasked the Chancellor of the Exchequer what portion of the 29,700,000 gallons of spirits estimated as likely to pay duty in the current year have paid such duty at the old rate; and what is therefore the estimated quantity which will pay the increased rate of duty?
§ Mr. HOBHOUSE5,100,000 gallons were duty paid before 30th April at the old rate of duty, leaving an estimated quantity of 24,600,000 gallons to be cleared during the remainder of the current financial year at the new rate of duty.
§ Mr. JOYNSON-HICKSWill the right hon. Gentleman state whether the duty on the estimated 24,000,000 will not come to a great deal more than £600,000?
§ Mr. HOBHOUSEYes, if the estimate were reached, but probably it will not be reached.
§ Mr. JOYNSON-HICKSWill it not come to a great deal more if the estimate is anything like reached, say, within half a dozen millions?
§ Mr. HOBHOUSEHalf a dozen millions is rather a large quantity, as the hon. Gentleman is aware.
§ Mr. JOYNSON-HICKSWill the right hon. Gentleman say whether a payment on 8,000,000 gallons at 3s. 9d. per gallon will not produce the Chancellor's estimates?
§ Mr. HOBHOUSEIf the hon. Member will put down these progressive calculations I shall be happy to furnish him with the information he desires.
§ Mr. JOYNSON-HICKSI will do so.