§ 55. Mr. G. P. Stevensasked the Chancellor of the Exchequer in how many cases within the last two years of companies, which are controlled companies within the meaning of Section 55 of the Finance Act, 1940, it has been found on the death of the principal shareholder that the value of the assets of the estate, exclusive of shares in the company, has been insufficient to pay the Death Duties upon the whole estate.
§ Mr. GaitskellI regret that this information is not available.
§ Mr. StevensDoes the Chancellor agree that there have been a large number of cases of this kind, and that, where Death Duties have had to be provided from the sale of shares, in many instances it has meant the break-up of the business concerned?
§ Mr. GaitskellNo, Sir. I have no information to that effect.