HC Deb 08 June 1961 vol 641 cc1381-2
36. Mr. Ridley

asked the Chancellor of the Exchequer how much Income Tax, Schedule D, and Profits Tax would be payable by a private company making the same profits as those made by the State Management Districts in the year ended 31st March, 1960.

Sir E. Boyle

I regret that I am unable to give this information.

Mr. Ridley

Since the State Management Districts have paid only £117,000 to the Exchequer, both in lieu of Profits Tax and Income Tax, and in interest on the taxpayers' capital, will my hon. Friend look into this matter to see whether he is sure that the taxpayer is getting a real return on the money invested?

Sir E. Boyle

I will certainly try to do that. The difficulty is that in the Report on State Management Districts the figures necessary to calculate the capital allowances for tax purposes on plant are not given. It is, therefore, not possible to calculate, on the basis of existing figures, the amount of tax that would be payable by a private company with the same trading results. But I will certainly see what I can do.

Mr. P. Williams

While this is very interesting, would it not be better to sell them off?

Sir E. Boyle

I think that supplementary question raises issues rather wider than the one on the Order Paper.