Clause 32. — (Further relief of small annuities from, estate duty.)

Part of Orders of the Day — Finance Bill. – in the House of Commons at on 1 July 1935.

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When I inserted this Clause in the Bill, I recognised that there might be some hardship in making a sudden jump from total exemption at £52 to the full duty at £53. I thought, however, that though some people might be affected, the actual amounts in question were not important enough to make it necessary to put in what is technically known as a "jump" provision. This matter was touched upon by the hon. Member for Rothwell (Mr. Lunn) in moving an Amendment during the Committee stage and I also received letters from the Association of Superannuation and Pension Funds and the National Federation of Insurance Workers, who represented that a "jump" provision ought to be added to the Bill. I think the Amendment brought forward by my hon. Friend will meet the case, and I shall be very happy to accept it.