§ 2.42 p.m.
§ LORD MITCHISONMy Lords, I beg leave to ask the Question which stands in my name on the Order Paper.
§ [The Question was as follows:
§ To ask Her Majesty's Government whether for the purposes of statements of capital gains inspectors of taxes will furnish lists of the market values on April 6, 1965, of all stocks and shares quoted on stock exchanges or will state such values as regards any particular stocks or shares on demand by the taxpayer.]
§ LORD BOWLESMy Lords, the London Stock Exchange has published a booklet giving the value, as at April 6, 1965, of shares and securities quoted on the Exchange on that date. Where necessary, inspectors will be prepared, on request, to provide information from this booklet to taxpayers.
§ LORD MITCHISONMy Lords, I thank my noble friend.
§ THE EARL OF DUNDEEMy Lords, have the Government ever considered calculating how much of the difference in value since April last year is due to real change of purchasing power and how much is due to inflation?
§ LORD BOWLESMy Lords, I have no doubt that they have.
§ THL EARL OF DUNDEEMy Lords, have they considered adapting the capital gains tax to meet that condition?
§ LORD BOWLESNo, my Lords, not to my knowledge.