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Capital Assets

Volume 393: debated on Tuesday 2 November 1943

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asked the Minister of Health what are the conditions under which public assistance authorities need not have regard to capital assets, which normally they disregard or from which a notional income is assumed to be derived?

It is lawful but not compulsory for a public assistance authority in granting outdoor relief to observe the rule relating to capital assets, which, as it applies from 1st November, 1943, is in the following form:

"All money and investments treated as capital assets and taken into account shall
  • (i) in so far as the value of all such money and investments considered in the aggregate does not exceed £25, be disregarded; and
  • (ii) in so far as that value exceeds £25 but does not exceed £400, be treated as equivalent to a weekly income of 6d. for every complete £25."