Clause 87

Part of Orders of the Day — Finance Bill – in the House of Commons at 6:30 pm on 8th May 1985.

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Photo of John Butterfill John Butterfill , Bournemouth West 6:30 pm, 8th May 1985

We can show that. It is clear that if the tax is removed, a substantial number of landowners would put their land on the market. That would increase the supply of land on the market, which would, of necessity, reduce prices. In my professional capacity, I have seen that the phasing effect, which takes place to take account of annual exemptions, has meant that many landowners have released their land in parcels in order to take maximum account of the annual exemptions available. That has delayed the flow of land on to the market.