HC Deb 05 May 1909 vol 4 cc1049-50
Sir FRANCIS LOWE

asked the Chancellor of the Exchequer whether the proposed tax of ½d. in the pound on the capital value of vacant building land will be charged in cases where it is shown, to the satisfaction of the Revenue authorities, that the landowner has been unsuccessful in his endeavours to let or otherwise dispose of his land, and that instead of deriving any annual income from it he is actually sustaining a loss in the way of interest on the capital invested?

The hon. Member had also given notice that he would ask the Chancellor of the Exchequer whether, in estimating the unearned increment in the value of land for the purpose of the new tax, the loss of interest on the money invested in such land, which the landowner has sustained by reason of his not being able to utilise or dispose of his land at an earlier date, will be taken into consideration?

Mr. LLOYD-GEORGE

I have already explained that I do not see my way to answer questions of this kind until the Finance Bill is in the hands of the House.

Sir FRANCIS LOWE

May I ask the right hon. Gentleman whether, for the sake of informing the House more definitely what his proposals are, he can answer at the present time, as it is very necessary that the public should be informed what they really mean?

Mr. SPEAKER

The right hon. Gentleman has answered that.

Sir FRANCIS LOWE

May I ask what is the result of the deliberations?

Mr. LLOYD-GEORGE

When we come to the discussion of the proposed tax, I will state the result.