§ Sir J. D. REESasked the Chancellor of the Exchequer whether, in view of the decision of the official Referee in the case of Dame Emily F. Smyth v. the Commissioners of Inland Revenue, agricultural land throughout the country will be subjected to a revaluation, and at what cost; if not, what steps the Government proposes to take; whether valuation on the present lines will continue, while the question is fought out, if it is fought out, in the Courts; and whether, while the question is sub judiee, he will take steps to prevent the taxpayer from being subjected to further annoyance and expense?
§ Mr. LLOYD GEORGEThe decision in question, which will be appealed against,
42Wdoes not, unless and until it is absolutely confirmed by the Courts, involve the abandonment of the basis on which valuations of agricultural land are at present conducted. Arrangements will be made to ensure that owners who give notice of objection to provisional valuations on account of the adoption of the principles called in question by the decision shall be as little inconvenienced as possible.