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Estate Duty

Volume 466: debated on Monday 4 July 1949

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asked the Chancellor of the Exchequer whether he will give figures showing from which sizes of estates he anticipates he will obtain the additional£20,000,000 which is to be raised by the changes in the death duties provided for in the Finance Bill, 1949.

As I explained in my Budget Speech [OFFICIAL REPORT, 6th April, 1949: c. 2104] the existing Estate Duty scale is being retained for estates up to£17,500, and above that figure and up to£35,000 the proposed new scale of duty will not exceed the average of the three old duties taken together on estates of the same size. The additional£20 million of new revenue will come from estates above£35,000.