Mr. NEWDEGATEasked the Chancellor of the Exchequer whether schools and educational establishments possessing property in land and houses, and relying to a large extent on such endowments for the upkeep of these establishments, will be liable to pay Increment Duty on granting fresh leases, although other parts of their property may have depreciated in value?
§ Mr. LLOYD GEORGEYes, Sir.