asked the Chancellor of the Exchequer whether he will give an estimate of the revenue return which would have resulted to the Treasury if, during the past two years, stamp duty on share transactions were raised by 1 per cent., 2 per cent. and 3 per cent., respectively; what would be the resultant gain or loss to the Treasury if the long-and short-term capital gains tax were re- placed by an increased contract stamp duty on this basis; and whether he will consider this method of raising revenue in his forthcoming Budget.
The rate of stamp duty on share transfers is approximately 1 per cent. If the rate had been increased by adding a further 1 per cent., 2 per cent. or 3 per cent., the estimated additional yield for the last two years on the same volume of transfers is as follows:
| 1968–69 | 1969–70 | |
| Increase of: | £m. | £m. |
| 1 per cent. | 55 | 62 |
| 2 per cent. | 110 | 124 |
| 3 per cent. | 165 | 186 |