§ 60. Sir WILLIAM DAVISONasked the Chancellor of the Exchequer whether he will consider the desirability of a provision in his forthcoming Budget whereby it may be possible for an individual taxpayer to take out an insurance policy in the name of the Chancellor of the Exchequer to provide for the payment of the death duties which will eventually be payable on his estate without having the amount of such insurance added on to the estate in question, whereby additional death duties on the amount insured would be payable?
§ Sir W. DAVISONDoes my hon. Friend fully realise the undesirability of having the accumulated capital of individuals used to pay national current expenditure, and does he not see that the suggestion made in the question would enable individuals to make an annual contribution to an insurance office, so that the duty could be paid to the Chancellor of the Exchequer on their death without involving the sale of capital?
Mr. SAMUELI cannot without notice answer that series of supplementary questions, but my hon. Friend may rest assured that the Chancellor of the Exchequer has not lost sight of his suggestion.