§ Mr. Sedgemoreasked the Chancellor of the Exchequer what estimate he has made of the benefit to industry of the deferment of tax on stock appreciation made in his last two Budgets.
§ Mr. Joel Barnett,pursuant to his reply [Official Report, 21st April], circulated the following answer:
The effect on 1974–75 payments of corporation tax is estimated at £775 million, as shown in Table 6 of the 1974–75 Supplementary Financial Statement and Budget Report, and the effect on 1975–76 payments of income tax and corporation tax is estimated at £1,300 million, as given in footnote 2 to Table 4 255W of the 1975–76 Financial Statement and Budget Report.