§ 1. Mr. Pageasked the Chancellor of the Exchequer if he will have a comparison made of the sale prices of private dwelling-houses, as noted upon the particulars delivered to the Commissioners of Inland Revenue under Section 28 of the Finance Act, 1931, and the annual values of such dwelling-houses, as assessed for Income Tax, Schedule A; and if he will make a statement concerning the relationship so found between current sale prices and annual values during the most recently convenient six-months' period.
§ The Financial Secretary to the Treasury (Mr. J. E. S. Simon)My right hon. Friend does not think that the value of the result of such an inquiry would justify the work involved.
§ Mr. PageWould it not be valuable, however, to have these figures to assist landlords and tenants now negotiating for the purchase of properties as a result of the Rent Act? Will not my hon. and learned Friend consider this again and see whether such a guide could be produced?
§ Mr. SimonEven in the light of the considerations urged by my hon. Friend, 550 it would demand an unjustifiable and disproportionate amount of work and expense.
§ 2. Mr. Pageasked the Chancellor of the Exchequer if he will give an estimate, based upon information supplied to the Commissioners of Inland Revenue under Section 28 of the Finance Act, 1931, and other information provided by stamp duty on conveyances, of the comparison between the current sale price of a private dwellinghouse at £1,500 to £3,000 and the sale price of a similar house in 1956 and 1957, respectively.
§ Mr. SimonA small sample suggests an increase of between 1 per cent. and 2 per cent. for 1958 over 1956 and 1957.