Houses (Sale Prices)

Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 12th July 1949.

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Photo of Mrs Jean Mann Mrs Jean Mann , Coatbridge 12:00 am, 12th July 1949

asked the Chancellor of the Exchequer if he is aware of the profiteering in the prices of houses for sale with vacant possession; and whether he will consider imposing a substantial Purchase Tax on such sales.

Photo of Sir Stafford Cripps Sir Stafford Cripps , Bristol East

The Purchase Tax could not be used as an instrument for imposing a tax on the seller of a house.

Photo of Mrs Jean Mann Mrs Jean Mann , Coatbridge

Could not my right hon. and learned Friend find some other method of dealing with this exploitation?

Photo of Sir Stafford Cripps Sir Stafford Cripps , Bristol East

I have answered the Question I was asked, which was whether we could use Purchase Tax for the purpose.

Photo of Mr Ronald Chamberlain Mr Ronald Chamberlain , Lambeth Norwood

If Purchase Tax is not available for the purpose, should not the Chancellor of the Exchequer think in terms of some form of capital appreciation tax, because millions are slipping by in this and other connections at a time when he is scratching around for a million here and there.

Photo of Mr Hector Hughes Mr Hector Hughes , Aberdeen North

Does not my right hon. and learned Friend think that this problem might at least be mitigated by some differential form of Stamp Duty? Is he aware that it has become a national scandal?

Photo of Sir Stafford Cripps Sir Stafford Cripps , Bristol East

I am afraid I cannot answer questions that are not on the Order Paper.