Hansard

Privatisation

Volume 113: debated on Monday 23 March 1987

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Mr. Robin Cook

asked the Chancellor of the Exchequer if he will publish in the Official Report up-to-date figures for fees paid in respect of all privatisation issues since 1979 on a comparable basis to the figures supplied to the hon. Member for Sedgefield (Mr. Blair) on 24 May, Official Report, columns 560–64.

Mr. Norman Lamont

I refer the hon. Member to the reply I gave the hon. Member for Sedgefield (Mr. Blair) on 24 May 1985, at columns 560–64, and to the reply I gave the hon. Member for Thurrock (Dr. McDonald) on 12 June 1985, at column 447. Except for the British Telecom and British Aerospace (1985) sales the figures given in these earlier replies, for total fees and commissions paid in the categories specified, are unchanged. Updated figures for those sales and the figures for subsequent sales are given below:

Share saleFees and Commissions (£000 including VAT)
British Telecom97,650
British Aerospace 19859,381
Britoil 19858,100
Total income £ millionTotal deductions1 £ millionTotal income tax2 £ millionNumber of tax units ThousandsNumber of tax paying units Thousands
United Kingdom191,0002,79037,30021,90020,500
England163,0002,47032,10018,60017,400
Wales7,6501031,380961875
Scotland16,6001773,1301,9001,770
Northern Ireland3,79047702467439
North9,130971,6201,1701,060
Yorkshire and Humberside14,5001642,6401,7501,620
North West19,7002583,6502,3802,200
East Midlands12,4001372,2801,4401,340
West Midlands15,6001472,8601,9601,820
East Anglia5,9401071,130698671
South East68,3001,30014,5007,0506,710
South West14,6002332,7001,7801,660
1 Deductions do not include relief on mortgage interest given at source.
2 Income tax liabilities have been calculated without deduction for reliefs given at source at basic rate, but after allowance for relief due in excess of basic rate.