§ 33. Mr. McAddenasked the Chancellor of the Exchequer whether, in view of the provisions of the Town and Country Planning Act, he will make a statement about the treatment for Estate Duty purposes of claims on the £300,000,000 fund established under Part VI of the Town and Country Planning Act, 1947.
§ Mr. Boyd-CarpenterYes, Sir. As the House was told by the right hon. Gentleman the Member for Colne Valley (Mr. Glenvil Hall) on 24th March, 1949, claims against this fund were regarded as property the payment of duty on which could be deferred under Section 6 (3) of the Finance Act, 1894, until their actual amount was known. Duty on most of these claims passing on a death has been deferred accordingly and, on the assumption that the Town and Country Planning Act becomes law, will not now be claimed. Similar treatment will be accorded in the relatively few cases in which duty has already been paid; in such cases the Estate Duty Office will be prepared, on application after the Town and Country Planning Act becomes law, to repay the duty with interest.
§ Mr. McAddenIs my hon. Friend aware that this answer will give general satisfaction on this complicated matter?