Report (14TH April).

Part of Orders of the Day — Ways and Means. – in the House of Commons at on 6 May 1930.

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Photo of Mr Frederick Pethick-Lawrence Mr Frederick Pethick-Lawrence , Leicester West

There are three points which I have to answer. In the first place as to special valuation of shares at the present time. I will answer that now. I think there have been occasions when it has been done, but in order that it may be regularised it is necessary to have this paragraph (c) in the Resolution. With regard to the point advanced from the Liberal benches, this does apply to cases where deliberate evasion has been attempted by action that has taken place in the past. I do not think, however, that this can possibly be termed retrospective. It would only be retrospective had it been proposed to go back and deal with the estates of people who had died in the past. This is not retrospective, because it applies to people who will die in the future, and with regard to those it is surely right to say that where it is shown that they have taken steps deliberately to evade the law, they should be brought within the terms proposed in this paragraph. It is perfectly possible and perfectly right to adopt this attitude just as it would be to alter the number of years in which the rule as to gifts inter vivos operates. It would apply to all those people who died after the particular Finance Act came into operation. That would not be retrospective legislation. Where people have so dealt with their property that when they come to die they will evade the Act, we must provide that they will not escape the tax.