§ Mrs. Ewing
asked the Chancellor of the Exchequer what is the total revenue gathered from taxes on musical instruments broken down into types of instrument in the last three years.
§ Mr. Taverne
Purchase tax receipts from musical instruments in financial years 1966–67, 1967–68 and 1968–69 were £1.1 million, £1.0 million and £2.0 million respectively. It is not possible to analyse these receipts by types of instrument.
Approximate import duty receipts from musical instruments in calendar years 1967, 1968 and 1969 were as follows:
on research and development, both current and capital, was about £370 million. For expenditure on stocks, the provisional figures for the calendar year 1969 show an increase in the book value of stocks and work in progress of £946 million in the company sector and £188 million in the personal sector. I am not sure what the hon. Member has in mind in his reference to working capital, for which various definitions are available. If it is taken as the excess of undistributed income 209W after tax, plus amounts raised by share issues and various forms of borrowing, over expenditure on gross fixed capital and stocks, the estimate for industrial and commercial companies is about £1,600 million for the 12 months ending September, 1969, the latest date for which figures are available.