§ Mr. Nicholas Edwards
asked the Chancellor of the Exchequer if he has recently accepted, in lieu of estate duty, any work of art under the provisions of Section 34 of the Finance Act, 1956.
§ Mr. Patrick Jenkin
Yes, I am glad to announce that agreement has been reached between Her Majesty's Government and the executors of the estate of the late Alexandra, Viscountess Gage, for the acceptance in part satisfaction of estate duty, of a painting, "An Extensive Landscape" by Philips de Koninck which is considered to be pre-eminent for its aesthetic merit. The total cost to the National Land Fund, after allowing for414W exemption from estate duty and capital gains tax, is £149,025.
The advice of the Standing Commission on Museums and Galleries was sought on its disposal and it has now been decided that the picture should be given to the National Gallery.