HC Deb 17 November 1960 vol 630 cc530-1
12. Mr. Grimond

asked the Chancellor of the Exchequer what recent study he has made of the estimated yield and costs and methods of administration of a tax on the increases in land values; and with what result.

Sir E. Boyle

No such study has been made.

Mr. Grimond

Is not this a very great pity indeed? Surely from the fiscal point of view and the town planning point of view this is a source of revenue which certainly should be examined. May I ask the hon. Gentleman whether, without anticipating anything, the Government, with a view to doing something in the next Budget, will have a study made of possible methods of diverting to the public interest some of the enormous sums made by the purchase of land?

Sir E. Boyle

I recall that this subject was well in fashion when my father was secretary to a Liberal Prime Minister fifty-four years ago. I do not think that we can debate the merits of this question at Question Time, though I note the hon. Member's views.