§ Mr. MAURICE HEALYasked the Chancellor of the Exchequer if he can state the average number of years' purchase at which agricultural lands in England have been assessed for the purposes of estate duty, and the proportion of cases in which such land has been assessed at the maximum of 25 years' purchase?
§ Mr. LLOYD-GEORGEThe average number of years' purchase at which agricultural land in England was assessed for purposes of estate duty in 1907–8 (the latest year for which figures are available) was, on the gross annual value, 18.75 years' purchase for freehold and 17.69 years' for other tenures. On the net annual value the average number of years' purchase was 23.21 for freehold and 21.11 for other tenures. There is no record of the proportion of cases in which such land has been assessed at the maximum of 25 years' purchase.
§ Mr. MAURICE HEALYCan the right hon. Gentleman give any case in which the land has been assessed?
§ Mr. LLOYD-GEORGEThe Returns only show the aggregate. I am not sure there would be any case at all.
§ Mr. MAURICE HEALYIs it not the fact that the operation of the 25 years' purchase is intended solely for the benefit of Ireland?
§ Mr. LLOYD-GEORGEQuite the reverse, and I can assure the hon. Member there are many cases in Wales to which it would apply.
§ Mr. MAURICE HEALYHas the right hon. Gentleman seen the decision in the-case of the Attorney-General v. Robinson? Will he take the opinion of the law officers as to its bearing on this matter?
§ Mr. LLOYD-GEORGEI will consider that.