§ 70. Mr. John Evansasked the Chancellor of the Exchequer what is the total amount of taxes received by the Treasury, under all headings, in each of the last seven years from the United Kingdom shipbuilding industry.
§ Dr. GilbertEstimates of tax payments by companies in individual industries are not available. Estimates of corporation tax assessed on companies in the shipbuilding and marine engineering industry have recently been running at 565W about £4 million a year. Estimates of receipts of income tax for these companies in respect of distributions and annual payments have been running at £2 million or £3 million.
The industry is, in general, relieved of indirect taxation by payments of shipbuilders' relief, by the application of the,
£million Corporation tax assessed on profits of accounting periods ending in the year Income tax deducted from distributions and annual payments made in the year Income tax deducted under PAYE in the year 1966–67 … … … 2 1 28 1967–68 … … … 3 2 32 1968–69 … … … 4 3 33 1969–70 … … … 4 3 41 1970–71 … … … 4 3 44 1971–72 … … … 4* 2 48 1972–73 … … … † 2 46* * Provisional. † Not available.