§ Sir GEORGE TOULMINasked the Chancellor of the Exchequer if he is aware of cases in Lancashire in which builders take land upon ground rent, build upon it, and sell the land and buildings upon terms which include an improved ground rent, the excess of value in the cash received and in the value of the improved ground rent being builders' profits; and whether there are any cases in which such improved ground rents have been charged with Increment Duty?
§ Mr. LLOYD GEORGEThe answer is in the negative. Improved ground rents are not in themselves chargeable with Increment Duty, though they may constitute part of a price which, taken as a whole, discloses increment value.