HC Deb 26 March 1971 vol 814 cc230-1W
Mr. David Mitchell

asked the Chancellor of the Exchequer what would be the estimated cost to the Exchequer if there were in operation a scheme of abatement of capital gains tax based upon reducing the liability by one-tenth for each year the assets had been held, so as to extinguish liability on assets held for 10 years.

Mr. Patrick Jenkin

No estimate is available but the cost would probably amount to a substantial proportion of the yield from capital gains, including the corporation tax thereon.