§ Mr. L. THOMPSONasked the Chancellor of the Exchequer whether he is aware of the concern and hardship likely to be caused by the new assessment of real property for Income Tax under Schedule A; and what basis of assessment is being used in connection with this new valuation for Schedule A?
§ Mr. BALDWINI would refer my hon. Friend to the replies which I have recently given to a number of questions on the subject of the revaluation of property which is being made for Income Tax purposes. In particular I would invite his attention to a reply, which I read to the House on the 3rd May, to a question standing in the name of the hon. Member for East Surrey (Mr. Galbraith). I am sending my hon. Friend a copy of that reply.
§ Mr. A. BENNETTasked the Chancellor of the Exchequer whether, seeing that heretofore there has been a relatively uniform assessment on real property under which both Income Tax and rates have been levied and that, as a result of the re-assessment under Schedule A, this uniformity may disappear, he will suspend the introduction of his new reassessment until the Inland Revenue Department has inquired more thoroughly into the whole matter?
§ Mr. BALDWINExcept in the Metropolis, the rating valuation has never governed the Income Tax and Inhabited House Duty assessment, which is arrived at upon a different statutory basis, and I see no reason to postpone the operation of the long-deferred re-valuation on the grounds which the hon. Member suggests.