HC Deb 23 May 1969 vol 784 cc154-5W
Mr. Woof

asked the Secretary of State for Economic Affairs how much money was raised through selective employment tax in the North East Region for each year since its inception; what is the estimated yield for the current financial year; and if he will give corresponding figures for the amount paid out through the regional employment premium and other aids to industry.

Mr. Frederick Lee

It is estimated that the net yield in a full year would be £16 million, £24 million, and £30 million, at the respective rates of tax obtaining, on introduction of the scheme, from September, 1968, and as proposed from July, 1969. Direct Government assistance on a preferential basis to industry in the Northern Development Area in the financial years 1966–67, 1967–68, and 1968–69 is estimated at about £15 million, £50 million, and £80 million, respectively.