Over fifty-four million, pounds collected in premiums in 1930; the magnitude of this figure alone would afford sufficient excuse for reverting to the report of which the full title appears above and which was reviewed in an earlier issue of this Journal.* The subject has, however, an added interest to the Institute since Industrial Assurance is the daily concern of many of our members and among the Committee, whose report (apart from one minor reservation to which reference will be made later) was unanimous, were included a Past-President of the Institute and the then President of the Faculty. Moreover, the Committee included no one directly interested in the administration of Industrial Assurance and its findings must therefore be regarded as impartial.

The law relating to death duties has changed considerably since 1906 when my predecessor, the late Mr J. C. Denmead, presented a paper to the Faculty of Actuaries entitled “Some Notes on the Death Duties from an Actuarial Point of View”. I have been asked, in view of the changes and lapse of time, to give some more modern notes on the death duties, treating the matter simply and briefly. Simplicity and brevity preclude a complete account of the death duties and these notes must be taken as dealing only in a broad way with such matters as seem of special interest to the actuary. The statements made and the opinions expressed have no official authority.