§ Mr. Arthur Lewis
asked the Chancellor of the Exchequer, in view of the fact that output and productivity have stopped expanding and that there has been a massive increase in imports of manufactured goods, how this will affect the unemployment situation; and when he662W
31st March 1974 £ Per cent. Lifetime Gift 52,625 (15) Death 113,575 (32)*
30th November 1977 £ Per cent. Lifetime Gift 66,500 (13) Death 102,900 (21) *Estate duty; capital transfer tax did not apply to deaths in March 1974.
It is assumed that agricultural and business reliefs apply; that the farm is the only asset being transferred and there have been no previous transfers; that the donee bears the tax on the lifetime gifts and that for the November 1977 transfers the rates etc., proposed in the economic statement in October are in force.