Securities (Taxation)

Mr. Forman
asked the Chancellor of the Exchequer what would be the cost in a full year if all corporate new issues of debt, equity and convertible securities in the domestic market, including rights issues, were free of (a) capital gains tax, (b) liability to investment income surcharge, and (c) liability to income tax altogether.

Mr. Robert Sheldon
I will let the hon. Member have a reply as soon as possible.

Mr. Forman
asked the Chancellor of the Exchequer what would be the cost in a full year of extending the capital gains tax exemption on gilt-edged securities to all fixed interest stocks.

Mr. Robert Sheldon
I will let the hon. Member have a reply as soon as possible.