§ 34. Mr. Stratton Millsasked the Chancellor of the Exchequer what has been the total sum raised in new taxes since 15th October, 1964; and if he will state this as an approximate annual percentage of Government taxation.
§ Mr. CallaghanThe broadening of the tax base through the Capital Gains Tax, the Selective Employment Tax, the general betting duty and the gaming duties has yielded net revenue of £281 million, up to the end of 1966–67, or 3 per cent. of total taxation in that year.
§ Mr. MillsBut the right hon. Gentleman has substantially underestimated the increase in taxation of over £1,000 million by the Socialist Administration—an average of 23s. per week for every family in the land. Will he say whether it is his intention to reduce taxes over the next few years?
§ Mr. CallaghanI was answering the Question on the Order Paper, but if the hon. Gentleman wants to ask a supplementary on a different question I would refer him to the large increase in wages that has taken place since October. 1964.