Development Land Tax

HC Deb 12 December 1974 vol 883 cc752-3

18. Mr. Michael Latham

asked the Chancellor of the Exchequer whether he will make a detailed statement on the proposed development land tax.

Mr. Robert Sheldon

I would refer the hon. Gentleman to the reply given on 13 th November by my right hon. Friend the Paymaster-General to a Question by my hon. Friend the Member for Rother Valley (Mr. Hardy).—[Vol. 881, c. 149.]

Mr. Latham

Has the hon. Gentleman any conception of the total paralysis that the lack of such a statement is causing in the housing market?

Mr. Sheldon

Without conceding the point made by the hon. Gentleman, I am aware that the sooner this position is clarified the better, and a statement will be made as soon as possible.

Mr. Grylls

Will the Government tell the House whether this new tax will result in more or fewer new houses being built?

Mr. Sheldon

The whole question of development land tax will come before the House and the hon. Gentleman will find that our proposals will improve the supply of land for houses, with the benefit to be obtained by the community in general. He must, regretfully, take on a little more patience and wait until the statement is made, as it will be shortly.