HC Deb 19 November 1965 vol 720 cc120-1W
Mr. Sheldon

asked the Chancellor of the Exchequer what would have been the yield of Corporation Tax at 35 per cent., 36 per cent., 37 per cent., 38 per cent., 39 per cent., and 40 per cent. and the yield of Income Tax at standard rates of 7s., 7s. 3d., 7s. 6d., 7s. 9d., 8s. and 8s. 3d., all for the financial years 1964–65 and 1965–66.

Mr. MacDermot

Any calculations would be unrealistic unless they made assumptions about the likely effect of Corporation Tax and Income Tax at various levels on such variables as the level of dividends and of capital investment by companies. As these assumptions would be highly speculative and as the calculations would involve a disproportionate amount of work, I regret that I cannot give the information asked for.

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