§ 5. Mr. Ridleyasked the Chancellor of the Exchequer what estimate he has made of the percentage tax that would have to be imposed on all transactions in building land, to yield on average, £100 million in a full year.
§ Mr. Boyd-CarpenterI am afraid not, Sir, as the facts on which such an estimate would have to be founded are not available.
§ Mr. RidleyIf my right hon. Friend does not even know that, would he not agree that it makes it even more difficult to assess the effects of a Labour land commission? How could we possibly guess by how much the price of land would go up for a given yield from such a source?
§ Mr. Boyd-CarpenterI agree with my hon. Friend. While this makes it clear that it would be difficult to give a precise assessment of the project to which he refers, it makes it abundantly clear that it would be wholly disastrous.
§ Mr. CallaghanInstead of applying his dialectical skill to destroying these propositions, would it not be more appropriate in a Minister of the Crown to devote his attention to methods of getting rid of what is regarded on all sides as a growing public scandal?
§ Mr. Boyd-CarpenterThese propositions require no dialectical skill to destroy. They come to pieces on their own.