§ Mr. Callaghan
Between 1951–52 and 1964–65 the average annual increase in Supply expenditure was£228 million, or 4.8 per cent.; the average annual increase in revenue from the taxes referred to by my hon. Friend was£143 million or 4.4 per cent. I will with permission circulate in the OFFICIAL REPORT a table giving more detailed information.
§ Mr. Bence
I thank my right hon. Friend for that reply, but does it not seem to indicate that in the past 13 years the increased revenue collected because of increased Government expenditure has been imposed more and more, relatively, on the lower income groups and on individuals rather than upon companies? Will he immediately convey to the people that the Finance Bill is a Measure to try to redress the balance and that the Opposition are trying to keep heavy taxation on individuals and to relieve companies?
§ Mr. Callaghan
We must keep a balance between securing a proper contribution by companies to the national Revenue and not impairing their commercial efficiency. But my hon. Friend will see from the table that whereas the percent-
|GOVERNMENT (SUPPLY) EXPENDITURE AND CERTAIN CATEGORIES OF REVENUE, 1951–52 AND 1964–65|
|£ million at prices of the year||Percentage increase/decrease||£ million at prices of the year||Average percentage increase/decrease per year|
|1951–52||1964–65||Increase/decrease||Average increase/decrease per year|
|Income tax on persons and unincorporated enterprise (including surtax)||1,230||2,821||1,591||129||122||6.6|
|* Includes profits tax, excess profits tax and excess profits levy, together with income tax paid by companies.|
|† Includes tax paid by public corporations amounting to approximately£5 million in each year.|