HC Deb 31 May 1911 vol 26 cc1063-4
Mr. PRETYMAN

asked if it is intended to impose increment Tax on an occasion when it is found that the site value is a minus quantity?

Mr. LLOYD GEORGE

Yes, Sir, if on the occasion increment is revealed.

Mr. PRETYMAN

asked the Chancellor of the Exchequer if, in view of the fact that when the original site value is a minus quantity the 10 per cent. allowance will increase instead of diminishing the duty, he wilt insert a clause in the Finance Bill amending the law in this respect?

Mr. LLOYD GEORGE

I am not aware that the provisions of Section 3 (5) of the Finance (1909–10) Act, 1910, will in any case have the effect of increasing the amount of duty payable; and I do not consider that an amendment of the law is called for.

Mr. PRETYMAN

It is obvious that if two minuses are added together they will increase the unit. Will the right hon. Gentleman look into that point and take advice upon it?

Mr. LLOYD GEORGE

I should have thought that two minuses would amount to nothing.

Mr. PRETYMAN

Is the right hon. Gentleman then going to charge a duty on nothing?

Mr. LLOYD GEORGE

On the contrary, we are going to charge the duty on the increment, and if there is a real increment in value, of course we shall charge the duty.