HC Deb 26 November 1975 vol 901 c215W
Mr. Faulds

asked the Chancellor of the Exchequer whether he will rescind the present Treasury ruling whereby the national galleries and museums must reimburse the land fund in instances where they acquire, under the procedure for payment of capital transfer tax with objects in lieu of cash, a work valued at 25 per cent. or less of their annual purchase grant.

Mr. Joel Barnett

I regret that I am unable to see my way to relieve the national museums and galleries of this obligation.

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