§ 22. Mr. Eadieasked the Chancellor of the Exchequer if, in the light of the research involved in the publication "A Scottish Budget", he will give the latest available estimates for the yield of a uniform 1 per cent., 2 per cent., 3 per cent. or 4 per cent. wealth tax on accumulated wealth of £20,000 or over for Scotland.
§ Mr. William RodgersOn the basis of present-day values, the yield of such a tax is estimated at £20 million, £40 million, £60 million and £80 million, respectively.
§ Mr. EadieDoes my hon. Friend realise that many workpeople in Scotland and elsewhere in the United Kingdom consider that the present method of taxation falls unfairly, and will he agree that a wealth tax would be a much fairer method of taxation than, for example, S.E.T. or a value-added tax?
§ Mr. RodgersI understand exactly what my hon. Friend says, but I do not draw the conclusions which he draws about the present system. I can give no commitment at the moment about a wealth tax.
§ Mrs. EwingDoes not the hon. Gentleman agree that the "Scottish Budget" did not throw any light on this matter, and his answer has nothing to do with the "Scottish Budget", which left us in complete darkness about vital matters such as gross national product, exports and imports, the cost of living index, and the total amount of tax collected relating to Scotland?
§ Mr. RodgersNo, I do not agree, and I am puzzled at the hon. Lady's inability to understand and see the importance of that document.