asked the Chancellor of the Exchequer if it is a fact that there has been an increase in the assessable value of docks, engineering shops, mills, and business premises under Schedule A for the current year; and, if so, if he can give any figure as showing the average percentage of increase?
§ Mr. BALDWIN
The hon. and gallant Member will recall that under the provisions of Section 14 (2) of the Finance Act, 1919, for purposes of Income Tax for the current year the annual value of properties outside the Metropolis are those that were adopted for the preceding year. As regards the Metropolis the valuations under the Valuation (Metropolis) Act, 1869, are conclusive for Income Tax purposes. In those circumstances, I have no information to show generally what fluctuations of annual value may have actually occurred during the year in the classes of properties referred to in the question. The Income Tax assessments in respect of docks are dealt with on a profit basis.