§ 99. Mr. Arbuthnotasked the Chancellor of the Exchequer if he will give an estimate of the rates of Estate Duty necessary to obtain the present revenue on the 96W basis that the duty was levied in progressive steps; and whether he will publish a table showing the effect of this change.
§ Mr. H. BrookeA number of alternative scales of Estate Duty, under which the duty would be levied at increasing rates on successive slices of the estate, could be devised to produce approximately the same yield as at present. One such scale is shown below:
Slice of estate Rate of duty £ Per cent 0–3,000 … … Nil 3,000–4.000 … … 2 4,000–5,000 … … 4 5,000–7,500 … … 6 7,500–10,000 … … 10 10,000–12,500 … … 14 12,500–15,000 … … 18 15,000–17,500 … … 22 17,500–20,000 … … 26 20,000–25,000 … … 30 25,000–30,000 … … 34 30,000–35,000 … … 38 35,000–40,000 … … 42 40,000–45,000 … … 46 45,000–50,000 … … 50 50,000–60,000 … … 54 60,000–75,000 … … 58 75,000–100,000 … … 62 100,000–150,000 … … 66 150,000–200,000 … … 70 200,000–300,000 … … 74 300,000–500,000 … … 78 500,000–750,000 … … 82 750,000–1,000,000 … … 86 Over 1,000,000 … … 90 The effect of the adoption of such a scale on individual cases would be to charge slightly less than the present duty on estates near the bottom of a range, about the same as at present at the midpoint of each range and rather more than at present at the top of each range.