asked the Chancellor of the Exchequer what evidence there is that the lowering of personal rates of income tax has brought discernable benefit to the Revenue through the declaration by individuals for taxation of moneys that might not otherwise have been declared; and whether this can be quantified.
I doubt if this effect can be quantified, but in any case I am afraid it is too soon to begin to draw any conclusions of the kind my hon. Friend has in mind.
asked the Chancellor of the Exchequer what would have been the yield in the current financial year if all chargeable gains made from the acquisition and disposal of assets within a period of 12 months were charged to income tax.
The net additional yield would have been about £5 million.