§ Captain CLIVEasked the Chancellor of the Exchequer the amount that he expects to obtain by charging Estate Duty on every transfer of a settled estate; the amount he expects to lose by abolishing the Settlement Estate Duty; and the amount of deduction that he anticipates making from Estate Duties for Settlement Estate Duty already paid; whether this deduction includes interest; and, if so, at what rate; and if he will give these figures both for this year and for a full year?
§ Mr. LLOYD GEORGEIt is expected that the amount of Estate Duty which will be obtained by charging it on every transfer of a settled estate not excluded by the terms of the Resolution, will be in the first year £395,000, and ultimately £3,400,000, and that the diminished revenue due to the abolition of Settlement Estate Duty will be in the first year £275,000, and ultimately £1,000,000. The amount of the deduction from Estate Duty for Settlement Estate Duty already paid, not including interest, is anticipated to be in the first year £44,000, rising to a maximum of £350,000 a year, but ultimately ceasing altogether.