§ 51. Mr. Barter
asked the Chancellor of the Exchequer his estimate of the aggregate gross annual value and net annual value for the purposes of Income Tax. Schedule A, of owner-occupied residential accommodation at the latest convenient date; and his estimate as to the aggregate gross annual value and net annual value if they were valued at present-day values instead of at 1936–37 values.
The Chancellor of the Exchequer (Mr. Derick Heathcoat Amory)
The Answer to the first part of the Question is £175 million and £135 million respectively in 1958–59. I regret that sufficient information is not available on which to base the estimates asked for in the second part.
§ Mr. Barter
Will my right hon. Friend accept that there would be a substantial increase in valuations, which would result in substantially higher taxes being paid by residential owner-occupiers?
§ 52. Mr. Barter
asked the Chancellor of the Exchequer his estimate of the aggregate reductions in Income Tax liability as a result of claims for maintenance of domestic properties by owner-occupiers in the year 1948–49 and for each subsequent year, and the proportion of owner-occupiers who made no claim in respect of each year.
It is estimated that maintenance claims by owner-occupiers of 1026 houses resulted in reduction of Income Tax of about £4 million in 1953–54, and about £6 million in 1957–58. It is also estimated that over 90 per cent. of all owner-occupiers make no claim in any particular year. Insufficient data exist for estimates to be given for every year.
§ Mr. Barter
Can my right hon. Friend say whether there is any increase in the proportion of owner-occupiers who are submitting claims, or whether there is, in fact, a decrease?
I am not sure, but I will look into it. If I can find any reliable figures, I will send them to my hon. Friend.