§ 55. Mr. Keeganasked the Chancellor of the Exchequer what provision he intends to make for the refunding of Purchase Tax to retailers who have been obliged to sell commodities subject to the new rate of tax after having paid Purchase Tax at the rate operative immediately before the Budget.
§ Mr. SimonNone. The Government accepted in 1953 the recommendation of the Hutton Committee that no compensation should be paid in these circumstances.
87W
§ 59. Mr. Wadeasked the Chancellor of the Exchequer what amount of revenue he estimates will be produced in a full financial year by the imposition of Purchase Tax on clogs and other wooden-soled footwear under Group 2 (c).
§ Mr. SimonMy right hon. Friend did not propose the withdrawal of this exemption for revenue reasons; the estimated yield will be small, but this is not a material factor.
Industry Receipts into Exchequer Issues from Exchequer Principal Interest £ £ £ National Coal Board … 506,769,221 25,459,696 588,150,000 Electricity Council … 5,920,000 4,145,829 123,000,000 Gas Council … 960,000 1,460,852 32,000,000 British Transport Commission … 2,800,000 2,943,788 134,326,642* British Overseas Airways Corporation … 1,414,286 524,715 32,600,000 British European Airways Corporation … 1,007,143 342,072 10,000,000 North of Scotland Hydro-Electric Board … 663,333 927,321 17,400,000 South of Scotland Electricity Board … 210,000 321,842 12,000,000 * including a sum of £66,326,642 issued under the Transport (Railway Finances) Act, 1957.