HC Deb 12 May 1964 vol 695 cc197-8
3. Dr. Bray

asked the Chancellor of the Exchequer how much speculative gains tax has now been collected.

The Financial Secretary to the Treasury (Mr. Alan Green)

I regret that this figure is not available.

Dr. Bray

Is it not available, or is it zero?

Mr. Green

I think that the hon. Member heard my reply; I said that it was not available.

Mr. Houghton

May I ask whether the hon. Gentleman will disclose to the House the figures he has? Surely he has some information—cannot it be disclosed to the House, with whatever qualifications and reservations may be needed?

Mr. Green

I am answering the Question on the Order Paper. If the hon. Gentleman wishes to put down another Question, I shall be delighted to try to answer it.

Sir C. Osborne

In this context, are football pool winnings regarded as speculative gains? Is, it not a fact that if a savage and vindictive tax were imposed, the tendency would be to dry up all forms of savings?

Mr. Green

I am afraid that I have to give my hon. Friend the same reply as I gave the hon. Member for Sowerby (Mr. Houghton).

Mr. Callaghan

Does the Financial Secretary's reply mean that he is unable to give the House any guidance at all about the amount of the speculative gains tax, or is he, in fact, concealing information that would enable him to give some information to the House?

Mr. Green

This matter, as the hon. Gentleman knows quite well, has been explored on a number of occasions already and, of course, I do not object at all to further exploration. The hon. Gentleman knows quite well, because the reasons have been given, why it is not possible at this time to give in precise terms anything other than a misleading reply, and it I am afraid that I do not choose to give a misleading reply. Of course, it would be possible to speculate about the size of this tax, but I do not happen to want to speculate about it.