§ 13. Mr. Osborneasked 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. MacmillanAs the Answer contains a number of figures, I will, with permission, circulate it in the OFFICIAL REPORT.
§ Mr. OsborneIf 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. MacmillanIf 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.