Development Land Tax

HC Deb 09 February 1984 vol 53 c1013

12. Mr. Fallon

Chancellor of the Exchequer what is the cost of collecting development land tax.

Mr. Peter Rees

In 1982–83, the latest financial year for which figures are available, the estimated cost was £4.9 million.

Mr. Fallon

May I ask my right hon. and learned Friend not to rule out eventual abolition of this essentially Socialist tax which, because its application is so uncertain, frequently hinders the development it is supposed to encourage?

Mr. Rees

I am sure that my right hon. Friend will take careful note of what my hon. Friend has said. My hon. Friend and the House will recognise that it is now a better tax than the one we inherited in 1979, because of the reliefs introduced in the last three or four Finance Acts.