§ 40. Captain Pilkington
asked the Chancellor of the Exchequer whether he will make a statement regarding the effect of the new valuation of property on Schedule A payments.
§ Mr. H. Brooke
The new rating valuation which comes into force in England and Wales next April can have no effect on the existing Schedule A assessments on property without specific legislation. The Royal Commission on the Taxation of Profits and Income made certain recommendations in its final Report, but my right hon. Friend has not yet completed his consideration of the matter.