§ 38. Colonel DAYasked the Chancellor of the Exchequer the total yield to the Treasury from betting taxation for the separate months of July, August, September, and October; and the total yield since the introduction of this duty to the last convenient date?
§ Mr. CHURCHILLThe approximate revenue derived from betting taxation in the months referred to by the hon. Member is as follows:
| £ | ||||
| July | … | … | … | 272,700 |
| August | … | … | … | 267,900 |
| September | … | … | … | 245,700 |
| October | … | … | … | 243,500 |
§ The approximate amount derived in the year 1st November, 1926, to 31st October, 1927, is £2,766,700.
§ Colonel DAYWill the right hon. Gentleman say how much of this duty was derived from greyhound racing?
§ Mr. CHURCHILLOh, an inconceivably small sum.
§ Colonel DAYCan the right hon. Gentleman say whether the statements that have appeared in the Press lately attributing to him that over £750,000 has been derived from greyhound racing are correct?
§ Mr. CHURCHILLI am not aware that any such statements have been made. If so, they are wrongfully attributed.
§ Mr. T. WILLIAMSCan the right hon. Gentleman say exactly how these figures compare with the original estimate of receipts from betting taxation?
§ Mr. CHURCHILLThe House must remember that the original proposal was for a higher rate of duty, and on the basis of that higher rate of duty I think the original estimate might well have been realised. But we reduced the duty because it was represented that the volume of betting was greater than we had first been led to apprehend. If our original figures were correct it was not to be expected that the reduced rates would yield much more than half the figure in our present account.
§ Mr. WILLIAMSAre we to understand from the right hon. Gentleman that these figures do approximately touch the 50 per cent. point referred to?
Viscountess ASTORAnd are we to understand that the Chancellor of the Exchequer is pleased with his Betting Duty?
§ Mr. CHURCHILLYes, I think I can honestly say that I am very pleased with it, but I should have been twice as pleased if the yield had been twice as much.