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Dividend Payments (Tax Revenue)

Volume 722: debated on Tuesday 14 December 1965

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asked the Chancellor of the Exchequer whether he expects any increase in tax revenue this year from increased dividend payments.

Is the Chief Secretary aware that many companies are increasing their dividends because of the uncertainty of the future tax position, which seems to have changed since the last Budget? Can he promise that Corporation Tax will stay at 35 per cent., as promised at the time of the last Budget? Is he further aware that his hon. Friend the Member for Buckingham (Mr. Maxwell) is rumoured as shortly going massively to increase his dividend because of this?

It would be improper to make any estimate whatsoever of what might be in my right hon. Friend's mind when he comes to introduce his Budget.