§ Captain Lyonsasked the Chancellor of the Exchequer whether he is aware that the policy of charging Death Duties only on property, passing on the death of individuals, is becoming impaired by recently increased investments in national debt securities and real estate for the benefit of non-trading, corporate and similar forms of undying ownership; and whether he will introduce legislation to prevent such loss by evasion of Death Duties, or arrange that undying ownership of all non-trading income-yielding capital shall share its burden of war-time taxation?
§ Sir K. WoodI would refer my hon. and gallant Friend to the reply which I gave my hon. Friend the Member for Windsor (Sir A. Somerville) on 13th May to a similar Question. I am sending him a copy of that reply. As at present advised, I see no reason for the introduction of legislation in the sense suggested by him.