§ Sir G. Mitchesonasked the Chancellor of the Exchequer whether his attention has been drawn to the heavy fall in the market value of ordinary shares since the announcement of the 100 per cent. Excess Profits Tax; and whether he can furnish any estimate as to the probable drop in the yield of Death Duties in consequence?
§ Sir K. WoodI am aware of the fall in industrial shares during the month of June, the causes and effects of which are, of course, of a general character. My hon. Friend will, however, have noticed that there has been an upward movement in share values during the past week. I cannot furnish any estimate of the incidental effects of the fall on the yield of Death Duties.