§ Mr. CHARLES CRAIGasked the Chancellor of the Exchequer what is the estimated cost of valuing all land at the price it may be expected to realise at the present time, with a view to the unearned increment tax, in the 20 largest towns in the United Kingdom? The hon. Member had also given notice to ask what is the estimated cost of valuing all land at the price it may be expected to realise at the present time, with a view to the unearned increment tax, in England, Scotland, and Ireland respectively?
§ Mr. LLOYD-GEORGEI will answer these two questions together. I am providing a sum of £50,000 for valuation purposes during the current year. The hon. Member will, of course, understand that it will be impossible to complete the valuation in that time.
§ Mr. AUSTEN CHAMBERLAINWill the right hon. Gentleman answer the second question? He said he would answer them both together, but I did not catch any answer to the second question.
§ Mr. LLOYD-GEORGEI can only provide for the expenditure of the current year. Of course, the aggregate amount will be dependent upon the time that it would take to complete the valuation.
§ Mr. AUSTEN CHAMBERLAINWhat my hon. Friend asks is, not whether the right hon. Gentleman will provide the amount required, but what is the estimated cost of valuing these lands. May I ask the right hon. Gentleman to give us the estimated cost of the operation he proposes?
§ Mr. LLOYD-GEORGEI thought I had answered that by saying that it depends upon the time it will occupy, and it will be quite impossible for me to estimate that until I know exactly what returns are made. The first process is that of returns of value by the owners themselves.
§ Mr. ROBERT DUNCAN (Lanark, Govan)Has the right hon. Gentleman got any light upon this question by his recent visit to Germany?
§ Mr. CHARLES CRAIGIs this valuation to be done by any existing Department, or will it be necessary to set up another Department?
§ Mr. SPEAKERThe hon. Member might raise that question in the course of the Debate.