§ Sir HENRY KIMBERasked the Chancellor of the Exchequer whether hotel companies who are offered the option of being taxed upon the basis of 33 per cent, of what is called annual compensation value of their premises are not to be informed of the mode of calculation by which the compensation value is to be arrived at, and the figure by which that is divided and reduced to annual compensation value, in order that they may know the liabilities they have to face; whether 193W he is aware that, according to the figures which his experts have given in the case of large hotels, the tax on this basis would amount to twenty times the existing Licence Duty, and 6 per cent, of the entire profits of an hotel which has cost £1,500,000 of money; whether he will insert in the Finance Bill some definition or statement of the principle of calculation upon which such compensation value is to be arrived at; and whether such information is to be kept secret from the taxpayers, and they, nevertheless, are to be bound by the certificate of the Commissioners without any disclosure of the method by which the amount of the duty has been determined?
§ Mr. LLOYD-GEORGEAs regards the first part of the hon. Baronet's question, I beg to refer him to my answer of the 21st instant. I cannot say whether the hon. Baronet's figures are correct, but no doubt the proposals involve an increase in the inadequate Licence Duty now payable in many cases. I shall be happy to receive any suggestions for defining compensation values. There is no intention of withholding any necessary information from the persons who will be required to pay the duties.