§ 100. Mr. A. V. ALEXANDERasked the Chancellor of the Exchequer what was the total yield to the Revenue for the year 1923–24 of the probate duty on estates valued at under £500; and what was the cost of collection of the duty on such estates?
§ Mr. CHURCHILLThe probate duty is not leviable in connection with deaths occurring after 1st August, 1894, and the yield of duly therefrom is now practically negligible. I assume, therefore, that the hon. Member's question refers to the Estate Duty. In the year 1923–24 the net receipt of Instate Duty on estates not exceeding £500 net capital value was £108,681. I regret that it is impossible to apportion the total cost of the administration and collection of the duty between the various ranges of estates dealt with, but the cost in this range is comparatively small.
§ Mr. ALEXANDERIn view of the very small yield from these small estates, will the right hon. Gentleman consider abolishing the duty under £500, and thus avoid all the trouble to working class people?
§ Mr. CHURCHILLThe principle is that working class people whose incomes and estates bring them within the range of direct taxation, ought not to be excluded.
§ 101. Mr. A. V. ALEXANDERasked the Chancellor of the Exchequer whether he is prepared to consider a revision of the basis of probate duty with a view to raising the present minimum from £100 to £500?
§ Mr. CHURCHILLI assume that the hon. Member's question refers to the Estate Duty. His suggestion has been noted; but he will not expect me at this stage to express an opinion on any of the many proposals which reach me in connection with the forthcoming Budget.