§ 38. Mr. Freethasked the Chancellor of the Exchequer the net yield, after allowing for refund, in each of the last three financial years of Schedule A tax, and the estimated cost of collection in each year.
§ Mr. PowellThe net yield of tax assessed under Schedule A, after allowing for discharges and repayments, in each of the last three financial years is estimated at £94 million, £97 million and £92 million respectively. Separate figures for the cost of collection of this tax are not available.
§ Mr. FreethWill not my hon. Friend agree that, in view of the great care with which people try to avoid paying as much of this tax as possible, the cost of collection is probably very high, and that, as the rates of householders have gone up substantially this year, and are likely to go up further next year, the retention of this tax, whose philosophic basis seems to be quite unsatisfactory, remains a very strong disincentive to potential house-owners?
§ Mr. PowellIt seems unlikely that the cost of the collection of this tax is a very high proportion, since the total cost of raising all Inland Revenue dues is less than one-third of the yield of the Schedule A tax alone.