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Post-War Credits

Volume 477: debated on Tuesday 4 July 1950

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48.

asked the Chancellor of the Exchequer what was the value of post-war credits, the ownership of which passed in the last financial year owing to the death of the holder; whether he has considered accepting the surrender of such credits against the Estate Duty payable on the estate; and if he will make a statement.

The information asked for in the first part of the Question is not available. I have considered the suggestion put forward in the second part, but I regret that I am not able to adopt it.

Has the right hon. and learned Gentleman taken into consideration the very serious inconvenience which is often caused to small estates through having to maintain these postwar credits, and, in addition, the inconvenience to his own Department which could well be disposed of for a very small sum?

I considered all these matters in connection with the Amendment put down by the hon. Member on the Committee stage of the Finance Bill.