British Heiresses Enabled to Borrow On Future Income

Grey River Argus, 9 November 1949, Page 4

British Heiresses Enabled to Borrow On Future Income

<Rec. 9.5) LONDON, Nov. 8 The House of Commons decided by ISO votes to 47 that, British heiresses will no longer be harried from anticipating their income if it is derived from trust funds. Lady Mountbatten is one of the beneficiaries affected. Her case occasioned the legislation. She inherited fourteen hundred thousand sterling from her grandfather, Sir Ernest Cassel. Though her income had.fallen from eighty thousand sterling a year to forty-five hundred sterling, she was net able to use the capital or to borrow on her future income.

Th-? Attorney-General, Sir Hartley Shawcross, said this bill would apply to thousands of women, and not only to the wealthy heiresses. He did not. think that the happiness of married women should be .. controlled by “a dead hand stretching out from the grave.”