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Company Taxation Yield

Volume 895: debated on Thursday 17 July 1975

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asked the Chancellor of the Exchequer what is the current estimate of the annual reduction in the company sector tax payments due to the tax relief on stocks initiated in the November Budget.

The cost in 1974–75 is estimated to have been £775 million as shown in Table 6 of the Supplementary Financial Statement and Budget Report for 1974–75. The cost in 1975–76 is estimated at £1,230 million as given in footnote 2 to Table 4 of the Financial Statement and Budget Report for 1975–76.