§ 48. Colonel Nathanasked the Chancellor of the Exchequer what he computes would be the effect upon the revenue if Estate Duty were permitted to be paid out of moneys resulting from life policies taken out for the sole purpose of answering the liability to Estate Duty and themselves excluded from the computation of the deceased's estate for the purpose of Estate Duty?
§ Sir J. SimonProposals of this character have been frequently the subject of discussion in Finance Bill Debates, and have been found to be so costly that they could not be entertained. As regards the hon. and gallant Member's suggestion of exempting the proceeds of insurance policies used for payment of Death Duties, it is estimated that, if all taxpayers took advantage of the relief, the annual cost to the Exchequer might reach as high a figure as £20,000,000.