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Gifts To Trusts (Loss Of Tax Revenue)

Volume 387: debated on Thursday 18 March 1943

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asked the Chancellor of the Exchequer what will be the loss to the Exchequer in Income Tax, Surtax and Estate and other Death Duties on account of a recent gift to trustees of £10,000,000, assuming that the donor lives for three years after the date of the gift and the rates of taxation remain the same as they are to-day?

I would refer my hon. Friend to my reply of 16th March to the Question by the hon. Member for East Middlesbrough (Mr. A. Edwards), of which I am sending him a copy. Similar considerations apply to the gift to which my hon. Friend refers in his Question.