§ Mr. ROYDSasked the Chancellor of the Exchequer, whether he is aware, in consequence of the distinction drawn in valuations under the Finance (1909–10) Act, 1910, between land subject to a perpetual rent and land subject to a ground rent, and of his promise on 8th May, 1911, to consider whether the law should be altered, that owners of such properties are hampered in dealing with them owing to the uncertainty of their fate; and whether he will now state his intentions with regard to an alteration of the law?
§ The FINANCIAL SECRETARY to the TREASURY (Mr. Masterman)I am advised that the hon. Member over-estimates the difficulties arising out of the distinction drawn between a perpetual rent and a ground rent. The question of amending the law is being considered, but I am not at present in a position to make any statement on the subject.
§ Mr. ROYDSWill the hon. Gentleman consider whether the expenditure of public money on site and other hypothetical valuations should now cease, and market values only be ascertained?