§ Mr. LEACHasked the Chancellor of the Exchequer if he is aware that a Noble Lord has agreed to sell to the Ecclesiastical Commissioners for a sum of over £13,000 the right of presentation to the two church livings of St. Mary's, Prestwich, and St. Mary's, Radcliffe, as set forth in two Bills now before this House; and, as the net annual income of these two livings, amounting to £3,775, is chiefly derived from ground rents, the value of which has been created by the communities concerned, will the £13,000 purchase money be subject to increment duty?
§ Mr. LLOYD GEORGEIn the circumstances described it would appear that the purchase money would not be subject to Increment Value Duty.
§ Mr. BOOTHIs the right hon. Gentleman aware that this £13,000 is the value now appearing, with no Probate Duty paid upon it on the succession to the estate; therefore, it must be increment since?
§ Mr. LLOYD GEORGEIt does not altogether depend upon that: it rather turns upon the interpretation of certain clauses. It depends entirely upon the interpretation.
§ Mr. BOOTHAre we to understand from the right hon. Gentleman that this £13,000 now in the hands of the Ecclesiastical Commissioners can be transferred to a private pocket in this scandalous manner and that the State can levy no tax?