§ 33. Colonel LOCKWOODasked whether Increment Duty would be charged in the case of a generous landlord who is anxious to forward the cause of education in his parish and is willing to sell land which has increased in value since 1909 to the educational authorities in his county at less than its real value?
§ Mr. LLOYD GEORGEOn the assumption that the landlord sacrifices the whole of the increased value which may have accrued since 1909, the answer is in the negative.
§ Colonel LOCKWOODWho will be the judge—the generous landowner or the Inland Revenue Department?
§ Mr. LLOYD GEORGEI do not think there will be any difficulty at all in that case. Of course, the valuer will be the judge.
§ Colonel LOCKWOODIs he sufficiently protected?
§ Mr. LLOYD GEORGEI think so.