§ 58. Sir WILLIAM DAVISONasked the Chancellor of the Exchequer whether he will consider as to the insertion of a Clause in his forthcoming Budget to enable 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 such estate whereby additional Death Duties to the extent of the amount of the insurance would be payable?
§ Sir W. DAVISONDoes the right hon. Gentleman recognise the serious hardship caused to individuals by the payment of these heavy Death Duties, generally resulting in unemployment, and does he not think it desirable that the ordinary individual should be able to 835 cover this by insurance in the ordinary way without being penalised for so doing?
Mr. SNOWDENThe hon. Member's opinions do not arise out of this question, but I may say that the hon. Member has raised this particular question before. I have been going into the matter this morning, and I find that not only would the difficulties of administration be very great, but it would be a very expensive proceeding for the Treasury to adopt.