§ Mr. STEWARTasked the Chancellor of the Exchequer how many valuations under the 1909–10 Budget have been completed in Ireland; what percentage this is of the total land to be valued; how much has been collected in Death Duties and transfer stamps on property in land which has changed ownership since the institution of the new taxes; and whether the fact that no Increment Duty has been collected is due to the fact that there has been no augmentation in value of the properties which have changed hands since that Budget was passed?
§ Mr. LLOYD GEORGEAbout 28,000 provisional valuations have been issued, but I am unable to say with any degree574W of accuracy what percentage of the total land these valuations represent. The amount collected (in Ireland) in the years 1910–11 and 1911–12, by way of Death Duties and Conveyance Duty in respect of real property was approximately:—
The amount of Increment Value Duty collected in Ireland up to 31st March, 1912,. was £34. The hon. Member no doubt realises that land acquired under the Land' Purchase Act is generally not subject to this duty even if there has been augmentation in value, as from its nature it has normally no higher value than its value for agricultural purposes.
Death Duties … £447,000 Conveyance Duty … 96,000