§ Mr. LoughtonTo ask the Chancellor of the Exchequer if he will estimate the revenue from stamp duty on shares if the rate was(a) increased to 1 per cent. and (b) lowered to ¼per cent. [R] [74066]
§ Ms Hewitt[holding answer 2 March 1999]: As set out in Table B10 of the Financial Statement and Budget Report, the revenue from duty on transactions in shares and other securities is forecast to be £3.1 billion in 1999–2000. If the rate of duty was raised from the current 0.5 per cent. to 1 per cent., then it is estimated that revenue would be £5.4 billion in 1999–2000 whereas, if it was reduced to ¼ per cent., then revenue would be £1.7 billion. These estimates take account of the impact the relevant changes would be expected to have on the value of share transactions.