§ It is hereby declared, for the purposes of Section 13, Sub-section (2), of the Finance (1909–10) Act, 1910, that where a lessor has entered into an agreement for a renewal of the lease with the lessee, in arriving at the amount of reversion duty payable at the determination of the then existing lease no regard shall be paid to the total value as defined by Section 25 of the abovementioned Act, but the value of the benefit accruing to the lessor upon which reversion duty is payable shall be the amount by which the total value, to be ascertained on the basis of the rent reserved and payments made in consideration of the new lease, exceeds the total value at the time of the original grant of the then existing lease, exceeds the total value at the time the provisions set out in Section 13, Sub-section (2), of the Finance (1909–10) Act, 1910.
§ Motion made and Question proposed, "That the Clause be read a second time."
§ Mr. BOYTONI beg formally to move the Second Reading of this Clause. I had hoped that this proposal would meet with the favourable consideration of the Chancellor of the Exchequer, but it has not been accepted by him, and at this late hour it would not be desirable that I should enter at length upon a somewhat involved question like this. If the Chancellor of the Exchequer can assure me that on the Report stage the matter will receive his consideration, provided that in the meantime I put a case before him, I shall be content to let the matter stand over. I hope the right hon. Gentleman will be able to do that.
§ Mr. LLOYD GEORGEThe hon. Gentleman has only asked me whether I will consider the question raised in his 2868 new Clause between now and the Report Stage. I have no difficulty in saying that I will certainly do that.
§ Question, "That the Clause be read a second time," put, and negatived.