§ Mr. Fauldsasked the Chancellor of the Exchequer (1) whether, with reference to the exemption referred to in the question asked by the hon. Member for Warley, East which was the subject of written answer, Official Report, 28 March, c. 722, it is a fact consequent upon that answer that the extent of the withholding by the Commissioners of Inland Revenue of the statutory tax exemption in question has had the effect of proportionately increasing the amounts debited to the National Land Fund in favour of the commissioners in respect of tax forgone by their acceptance of objects in order to satisfy tax debts due on other property; and whether the tax credits extended by the commissioners to tax debtors in respect of objects thus surrendered have been diminished to the extent that such statutory tax exemption has been withheld by the commissioners, resulting in a higher proportion of the relevant tax debts being discharged by direct payment to the commissioners;
517W(2) whether, following his written answers to the hon. Member for Warley, East, Official Report, 6 July 1979, c. 773, Official Report, 31 October 1979, c. 525, and Official Report, 12 February, c. 601, an administrative decision has been reached regarding the recommendation in the third report (Session 1977–78) of the Environment Sub-Committee of the Expenditure Committee relating to the waiving of interest charges in respect of the value of works of art and museum objects if and when these are accepted in lieu of capital transfer tax; and whether he will now make a statement in this regard, with particular reference to the circumstances specified in the question to him from the hon. Member for Warley, East on 6 July 1979.
§ Mr. Peter ReesI will let the hon. Member have a reply as soon as possible.