§ 58. Lieut.-Colonel ACLAND-TROYTE
asked the Chancellor of the Exchequer what sum of money has been expended since 1st January in carrying out the provisions of Section 28 of the Finance Act, 1931?
§ Lieut.-Colonel ACLAND - TROYTE
May I ask what use it is to come down here and preach economy, and allow this waste of money to go on?
§ 59. Lieut.-Colonel ACLAND-TROYTE
asked the Chancellor of the Exchequer why a form headed Land Value Tax is being sent to all persons disposing of land either by sale or lease of over seven years; and whether the particulars demanded on this form have any connection with the taxation of land values or are demanded with a view to facilitating the future taxation of land values?
I assume that my hon. and gallant Friend is referring to the forms used in connection with the production of instruments under Section 28 of the Finance Act, 1931. On the passing into law of the present Finance Bill, the Land Value Tax will be suspended until a date hereafter to be determined by Parliament; but the provisions of Section 28 will continue in operation. The production of instruments under that Section in future is not required with a view to the taxation of land values and in future prints of the forms in question it is proposed to omit any reference to the Land Value Tax.
It is required in order to afford information as to the current values of the land, which is required for various purposes including the Death Duties and the purchase of land.
§ Lieut.-Colonel ACLAND-TROYTE
Has not this information always been available before these questions were asked, and, if it was not available then, why is it necessary now?
It was originally available, but after the Act was repealed in 1923 it was not available, and all the experience we have had since then shows that it is very desirable that it should be available again.