§ 22. Mr. D. Footasked the Chancellor of the Exchequer what is the policy of his Department regarding the sale of intercepted smuggled watches; and if he will state the amount realised by such sales in each of the past 10 years.
§ 27. Sir D. Kaberryasked the Chancellor of the Exchequer if he will state, for each of the last ten years to the latest convenient date, the number of watches and clocks impounded by Her Majesty's Customs and Excise officers in each year; their approximate value; the amount of duty charged or recovered in respect of them; the amount received by Her Majesty's Customs and Excise on sale of such watches and clocks; whether the sales took place by private tender, or public auction, or by any other way and how frequently such sales are effected.
§ Mr. du CannLike other saleable forfeitures, watches seized by the Customs are sold for the benefit of the Exchequer by competitive tender. Sales, which take place about twice a year, are advertised in trade journals and by 55W circular letters sent to all known prospective bidders. Recent receipts have averaged about £55,000 a year, exclusive of Purchase Tax, which is payable in addition. I am circulating the detailed figures in the OFFICIAL REPORT. I cannot give any better figure for the value of these seizures than the prices actually realised.
Following are the figures:
CUSTOMS AND EXCISE Year Sales of seized watches Number sold* Amount received† £ 1953 22,306 50,200 1954 29,326 75,173 1955 10,790 25,333 1956 16,377 23,641 1957 18,572 47,872 1958 14,855 34,725 1959 15,926 45,619 1960 26,211 67,045 1961 17,437 43,605 1962 23,953 57,862 No separate figures are available for annual seizures. * Includes a very small number of watch movements and clocks. †Includes Customs duty but not purchase tax, which is payable in addition.