§ Dr. David Owen
asked the Chancellor of the Exchequer if he will make a statement about recent acquisitions in lieu of Estate Duty.
§ Mr. Taverne
Yes. Negotiations have recently been completed for the acceptance of three important items in lieu of Estate Duty.
Agreement has been reached between Her Majesty's Government and the trustees of the estate of the late Baroness Seaton for the acceptance under Section 34 of the Finance Act, 1956, of Drake's Drum in part satisfaction of estate duty 124W payable in connection with the death of Mr. Richard Meyrick. The advice of the Standing Commission on Museums and Galleries has been sought on the disposal of this relic and, in view of the West Country associations, it has been decided that the Drum should be offered on long loan to the City of Plymouth for display at Buckland Abbey.
Great Mell Fell in Cumberland and part of the Cliveden Estate have also been offered by the trustees of the Greystoke Castle estate and of the estate of the late Viscount Astor respectively. Both these offers have been accepted and the properties have been transferred to the National Trust to hold for the benefit and enjoyment of the public.
The total cost to the National Land Fund of these acquisitions, after making allowance for Estate Duty exemption where appropriate, is £59,250.