HC Deb 15 June 1911 vol 26 cc1677-8
Mr. LEACH

asked 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 GEORGE

In the circumstances described it would appear that the purchase money would not be subject to Increment Value Duty.

Mr. BOOTH

Is 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 GEORGE

It does not altogether depend upon that: it rather turns upon the interpretation of certain clauses. It depends entirely upon the interpretation.

Mr. BOOTH

Are 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?

Mr. DEPUTY-SPEAKER

That is a question that does not arise.