§ 62. Mr. Lewis
asked the Chancellor of the Exchequer if he will state the total amount of stakes on totalisators on grey- 12W hound racetracks, and the total pool betting duty received by his Department, in the year 1948–49, and 1956–57, respectively; and taking the£ as having a purchasing value of 20s. at 1948, what would be the income needed in 1958 from this betting duty to ensure a similar return to the Treasury as that received in 1948, after allowing for the depreciation of the£ from 1948 to 1958.
§ Mr. Erroll
Following is the reply:
£ million — 1948–49 1956–57 Totalisator stakes at dog-tracks 93.64 61.36 Pool betting duty receipts:— from dog-track totalisators 9.36 6.14 from football and other pools* 12.30 21.30 Total 21.66 27.44 * The duty on football pool betting was increased from 20 to 30 per cent. as from 9th April, 1949.
To represent the same amount of purchasing power, as when the duty was first imposed, current receipts from greyhound totalisators would have to be more than doubled.