HC Deb 23 October 1956 vol 558 cc462-3
13. Mr. Osborne

asked the Chancellor of the Exchequer how much was paid by industry in taxation for each of the last five years ; and what were the social services it paid for.

Mr. H. Macmillan

As the Answer contains a number of figures, I will, with permission, circulate it in the OFFICIAL REPORT.

Mr. Osborne

If industry ceases to make profits over the next five years, what alternative source of taxation has my right hon. Friend in mind to maintain the welfare services?

Mr. Macmillan

If industry ceased to make profits, it would be a very bad day for this country.

Following is the Answer : The total payments of taxes on income by companies and public corporations (excluding Income Tax deducted at source on payments of interest and dividends) in each of the last five years, as shown in Table 43 of the National Income Blue Book, 1956. is estimated as follows :
£ million
1951 707
1952 960
1953 962
1954 872
1955 912

The total expenditure by the Central Government on social services defined as in Table 42 of the National Income Blue Book, 1956, is estimated as follows :

£ million
1951 1,187
1952 1,216
1953 1,298
1954 1,336
1955 1,428

Expenditure by the Central Government includes specific grants to local authorities in respect of the services concerned. It includes grants from the Central Government to the National Insurance Funds but excludes expenditure by the National Insurance Funds.

This answer does not, of course, imply that the taxes paid by industry are specifically applied to expenditure on social services.