§ Mr. Newtonasked the Chancellor of the Exchequer what was the total yield of stamp duties in 1973–74; and what part of this total arose from duty on the conveyance of private dwellings.
§ Dr. GilbertThe total revenue from stamp duties in 1973–74 was £190 million, of which it is estimated that about £40 million arose from the conveyances of residential buildings.
§ Mr. Newtonasked the Chancellor of the Exchequer what are his estimates of the increase or reduction in stamp duty arising from the proposed new limits set out in paragraph 4(2)(a) to (e), respectively, of Schedule 10 to the Finance Bill; and what corresponding estimates would be if each of these limits were to be increased by £5,000.
§ Dr. GilbertThe full-year effects of the new limits proposed in paragraph 4(2) of Schedule 10 to the Finance Bill will be a cost of £11 million, a cost of £9 million, no change, a yield of £3 million and a yield of £30 million respectively, giving a total yield in the full year of £13 million; and with each of the limits increased by £5,000 the full year effects would be a cost of £29 million, a cost of £5 million, no change, a yield444W of £2 million and a yield of £26 million respectively, giving a total cost in the full year of £6 million as compared with the pre-Budget position.