§ Mr. RENDALLasked the Chancellor of the Exchequer the reasons for the decision that in spite of the repeal of the Land Duties it is proposed still to demand from solicitors the preparation and delivery with all conveyances sent to the Inland Revenue for stamping of particulars for having the increment value duty impressed; what object is served by the impression of a stamp on a document concerning a duty which is repealed; and whether he is aware that the preparation of these particulars costs every purchaser of property a guinea or more?
Mr. CHAMBERLAINAs stated in my Budget, the Government attach great importance to the principle of having an up-to-date valuation of all lands and buildings in the United Kingdom. It is proposed that the particulars hitherto supplied to the Inland Revenue Department in connection with the Increment Value Duty should continue to be furnished, notwithstanding the repeal of the Land Values Duties, in order that the material already in the possession of the Department may be kept up-to-date as a basis for any new valuation upon which Parliament may decide hereafter. To secure this, the relevant documents will, as at present, be required to be presented for the impression of an appropriate stamp. I am unable to agree that the expenditure referred to 1719W in the last part of the hon. Member's question is necessarily incurred in this connection.