§ Mr. LEVERTON HARRISasked the Chancellor of the Exchequer whether, in view of the fact that the valuation of land for the purposes of taxation was to be identical with the valuation for death duties, clause 8, sub-section 12, of the Finance Act of 1894 would apply to the 12 former as well as the latter valuation, which clause provides that where it is proved that too much duty has been paid the excess shall Le repaid, and in cases where the over payment was due to over valuation by the Commissioners with interest at 3 per cent. per annum?
§ Mr. LLOYD-GEORGEI must ask the hon. Member to wait for this information until the Finance Bill is in the hands of the House.
The HON. MEMBERalso asked whether, in valuing land for the purposes of ascertaining death duties, a deduction may in the future be made from the value of such land of the amount of any tax which may be payable for unearned increment?
§ Mr. LLOYD-GEORGEAgain I must ask the hon. Member to wait for the text of the Finance Bill.