§ 55. Brigadier General CLIFTON BROWN
asked the Chancellor of the Exchequer what has been the saving on the Inland Revenue Department Valuation Office due to the postponement of the Land Tax scheme; and whether he will consider further economies by abolishing Part III of the Finance Act, 1931?
§ The CHANCELLOR of the EXCHEQUER (Mr. Chamberlain)
From the nature of the case it is not possible to state what would have been the actual cost of completing the valuation pre- 354 scribed by Part III of the Finance Act, 1931. It was, however, estimated that the cost of this work would be from £1,000,000 to £1,500,000 spread over four financial years, and the suspension of the valuation necessarily involves the saving of the great bulk of this amount.
With regard to the latter part of the question, I am unable at this stage to give any indication as to the contents of next year's Finance Bill.
Did not a report that was issued last week say that the real saving from the abandonment of the Land Tax valuation was £227,500?