§ 30. Mr. Maddanasked the Chancellor of the Exchequer what was the amount brought in by the tax introduced in 1962 on short-term capital gains for the period until 5th April, 1965; and what is his estimate of the cost of collecting this sum.
§ Mr. DiamondAbout £4½ million. The cost of collection cannot be segregated from the cost of collecting other taxes.
§ Mr. MaddanWould not the right hon. Gentleman agree that the ratio of expenses to amount collected under the tax instituted by my right hon. and learned Friend the Member for Wirral (Mr. Selwyn Lloyd) was a far better ratio than anything achieved to date by the Capital Gains Tax system introduced by the present Chancellor?
§ Mr. DiamondI could not possibly offer any statement at all, for nobody knows what either ratio is.