§ Mr. Nabarroasked the Chancellor of the Exchequer whether he will state the total yield of Purchase Tax, respectively, during the years 1957–58 and 1958–59 and, 19W in the case of each year, the yield of the tax at each of the rates then applicable, and the anticipated yield of each of the rates, respectively, 5 per cent., 12½ per
ESTIMATED YIELDS FROM PURCHASE TAX IN 1957–58, 1958–59 AND 1959–60 Rate of tax Estimated yield 1957–58 1958–59 1959–60 Per cent. £ million £ million £ million 5 51 53½ 55 10 4 Not operative Not operative 15 26 39 (12½ per cent.) 40 30 143 164½ (25 per cent.) 154 50 3 Not operative Not operative 60 238 232 (50 per cent.) 222 90 30 Not operative Not operative At former rates (see Note 1) — 8½ — TOTAL 495 497½ 471 NOTES: 1. As Purchase Tax is payable quarterly in arrear, receipts for a financial year relate to chargeable transactions in the calendar year to the preceding 31st December and include, where rates have been changed in an April Budget, approximately one quarter's receipts at pre-Budget rates. Thus the total receipts for 1958–59 include estimated amounts of £7 million from the 90 per cent. rate, £4 million from the 50 per cent. rate and £1 million from the 10 per cent. rate. 2. As a result of the reform of the tax in the Budget of 1958, the coverage of the four rates operative in 1958–59 was not the same as in the previous year. The only differences in coverage in the 1959–60 estimate are due to abolition of the tax on (a) commercial vehicle chassis (formerly 30 per cent.) and (b) television viewing tubes (formerly 60 per cent.).