§ Mr. Howeasked the Chancellor of the Exchequer whether he will state the amount yielded by Purchase Tax upon jewellery, imitation jewellery and articles of personal adornment during a full financial year at the current rate of 25 per cent. and during the most recent year for which Purchase Tax was levied on such goods or the bulk thereof at the higher rate of 50 per cent.; and what estimate he has made of the change in yield likely to result from a doubling of the percent rate of tax charged on such goods.
§ Mr. MacDermotThe yield from these goods in the year 1954–55 when the rate of tax was 50 per cent. was about £6 million. The yield in the current financial year is estimated at about £7 million. As regards the last part of the Question, my right hon. Friend at this time of the year cannot disclose what estimates he has made of the yield of hypothetical tax changes.