HC Deb 07 February 1966 vol 724 cc14-5W
Mr. Barnett

asked the Chancellor of the Exchequer if he will give an estimate of the cost of exempting from Capital Gains Tax the disposal of securities not exceeding £1,000 in any one year.

Mr. MacDermot

The cost cannot be estimated. It would depend on the extent to which taxpayers took advantage of the exemption by spreading their disposals.

Mr. Barnett

asked the Chancellor of the Exchequer if he will estimate the cost of exempting from Capital Gains Tax the first £500 of gains.

Mr. MacDermot

I would refer my hon. Friend to the Answer given to the hon. Member for Harrow, Central (Mr. Grant) on Tuesday, 7th December, 1965.

Mr. Barnett

asked the Chancellor of the Exchequer if he will estimate the cost of exempting from Capital Gains Tax the realised gains of unit trusts and investment trusts.

Mr. MacDermot

The cost cannot be estimated. It would depend on the extent to which investments were diverted to the trusts from other forms of saving.