HC Deb 13 June 1940 vol 361 cc1375-6
44. Mr. Stokes

asked the Chancellor of the Exchequer whether he intends that profits made from land sales shall be made subject to 100 per cent. Excess Profits Tax?

Sir K. Wood

Any profit arising from sales of land may be a revenue profit or a capital gain according to the circumstances of the particular case. In the former case it would be taken into account in computing profits for the purposes of Excess Profits Tax.

Mr. Stokes

Will the Chancellor bear in mind that much of this land sold since the war had little or no value before the war and that its enhanced value is entirely due to the incidence of war? Will he see that owners derive no benefit at the expense of the people who are fighting?

Sir Cooper Rawson

Will the Chancellor, at the same time, consider giving compensation to people whose property has depreciated in value?