HC Deb 24 March 1970 vol 798 c363W
114. Mr. Bruce-Gardyne

asked the Chancellor of the Exchequer what is the real net return on a security yielding 9 per cent. gross, on the basis that the rate of tax is 8s. 3d. in the £ sterling and the maintenance of capital values occurs out of after-tax interest with inflation at 4.3 per cent.

Mr. Taverne

About three-quarters of one per cent. on the basis of a flat yield on a fixed interest marketable security and assuming that interest is re-invested in the same security at the same yield.

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