' We have dealt at lengthS in another column with
the new valuation policy announced by Mr. Asquith on Wednesday. On Thursday Sir Robert Perks, speaking on the Government piovision that the annual tax on undeveloped land shall be borne by the owner notwithstanding any contract to the
contrary, pointed out in a very able and convincing speech that the clause was absolutely at variance with declarations made by the present Prime Minister at two public meetings :— 1 "On both occasions there was an explicit and clear declaration thit in legislation of this character there should be no inter- ference whatever with existing contracts. It was difficult to
reconcile with that statement a clause declaring that the tax shall be payable by the owner and not by the tenant Who has contrasted to pay all rates and taxes. There was no doubt there would be absolute violation of existing contracts under this pro- vision. The principle of the tax was unjust, and this instance of injustice and difficulty was but a small portion of what would arise when the Act came into operation."
Sir Robert Perks went on to show how the result must be to prevent a prudent landlord from granting leases. He would naturally say: "I cannot, as in the past, fix a rental which will be reasonably remunerative to me for my outlay over a period of years. I can only fix a rent from year to year, or for an extremely short term, not knowing what may be the future incidence of taxation on the property." That would be contrary to the interests of tenant-farmers, of small occupiers, and of all people who wished to rent land.
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