§ Mr. David Mitchellasked 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 JenkinNo estimate is available but the cost would probably amount to a substantial proportion of the yield from capital gains, including the corporation tax thereon.