Capital Gains Tax

HC Deb 29 November 1966 vol 737 cc200-1

25. Mr. Stratton Mills

asked the Chancellor of the Exchequer why he is unable to give a figure for the total losses for Capital Gains Tax.

Mr. MacDermot

Because these statistics are not collected.

Mr. Stratton Mills

Surely this is most curious. Will this information not be required by the Chancellor in formulating his forward Budget estimates? Would not the hon. and learned Gentleman agree with me that, having regard to the very heavy falls in the Stock Exchange, the agreed forward losses are likely to exceed many scores of times the very small amount collected by this miserable tax?

Mr. MacDermot

No, Sir. The information is not required. I thought that hon. Members opposite were anxious that we should restrain the growth in the Civil Service and not increase it by collecting statistics which we do not need.