§ Notwithstanding anything contained in the principal Act, where under the provisions of any lease or agreement any statutory company are required to pay over any part of the increment value of any land to His Majesty, or to any person on behalf of His Majesty, or and Department of Government, that part of the increment value shall, for the purposes of the provisions of the said Act as to the collection of Increment Value Duty, be treated as increment value arising in respect of land held by His Majesty.
§ Motion made, and Question proposed, "That the Clause be read a second time."—[Mr. Hobhouse.]
§ 5.0 P.M.
Mr. STANLEY WILSONAs the originator of this Clause, I should like to say a few words upon it. Allow me, in the first place, to thank the Government for having accepted the Clause and thereby fulfilled the promise they gave to me a year and a-half ago. I will briefly explain to the House my reasons for having proposed the Clause, and also on behalf of the Government, I will explain their reasons for having accepted it. I placed this Clause on the paper originally in the interest of the Humber Conservancy Board, and also in the interest of any company that may be placed in a similar 1174 position. The Humber Conservancy Board are a statutory company under the Act, and they are the leaseholders of the foreshore of the Humber. They hold it under a 999 years' lease; but there is a reservation that on any sale of the foreshore a third of the price that is paid is to go to the Board of Trade. The Committee will see that this Clause gives a small, but only a very small, relief to the Humber Conservancy Board. It frees from Increment Duty that portion of the price which goes to the Government. I think everybody must admit that this is a fair and reasonable proposition. If the Government wish the figures showing what the effect would be, and how small the benefit would be to the Conservancy Board, I have got them in my pocket, and will give them if desired; but I do not wish to take up the time of the Committee unnecessarily. Hon. Members below the Gangway, the land taxers, have already occupied the time of the Committee to such an extent that I hope on this Clause they will not consider it necessary to intervene, because I think even they will see the entire justice of the Clause. I should like incidentally to remark that the Humber Conservancy is not one for making profit. Its sole, object is the benefit of the traders on the river Humber. A year and a half ago the hon. Member for East Hull (Mr. Ferens), a supporter of the Government, and I did our best to get this Clause inserted in the Budget Bill which was then before the House. On the Committee stage I moved an Amendment which was a great deal wider than that which the Government have adopted now. The Chancellor of the Exchequer told me then that he could not accept it, but he added that if something could be brought forward on Report which would commend it to him, he would accept it. Negotiations took place before the Report stage, and this Amendment was put on the Paper with the full approval of the Chancellor of the Exchequer, but unfortunately, for family reasons, I was unable to be present on the Report stage. Through some misunderstanding the Attorney-General, who was left in charge of the Report stage on that occasion, refused at the last moment to accept the Amendment which was moved by my hon. Friend the Member for East Hull. We were thus prevented from getting the Amendment accepted by the Government. Immediately afterwards, however, the Chancellor of the Exchequer admitted the mistake which was then made and promised to insert it on the first opportunity.
1175 This is the first opportunity he has had of accepting this Amendment, and therefore I thank him and thank the Government for having fulfilled their promise.
§ Clause read a second time and added to the Bill.