HC Deb 23 October 1956 vol 558 c459
9. Mr. Osborne

asked the Chancellor of the Exchequer to give an estimate of the extra amount per week each would receive if the total amount distributed annually in net ordinary dividends were distributed amongst the 23,989,000 total working population.

Mr. H. Macmillan

The total amount distributed as ordinary dividends by all companies in 1955 is estimated at £652 million before tax (excluding payments by one company to another). After deduction of Income Tax at the standard rate of 8s. 6d., this represents £375 million, or 6s. per head per week of the working population at June, 1956.

Mr. Osborne

Did I understand the figure to be 6d. or 6s.?

Mr. Macmillan

Six shillings.

Mr. Osborne

Would my right hon. Friend please send this Answer to his shadow so that his shadow may see that Sir Stafford Cripps was right—that there is not a lot to be gained by further redistribution?