§ Mr. David Jamesasked the Chancellor of the Exchequer what is the highest rate of estate duty/gift tax in the direct line of descent currently prevailing in each of the nine countries of the EEC; and what was the total annual yield at the last convenient date in each of the countries concerned.
§ Dr. Gilbert:The information is:
(i) (ii) Highest rate of estate duty/gift tax in direct line of descent Approximate sterling equivalent of yield 1972 Per cent. £ million Belgium … 17 46 Denmark … 32 16 France … 20 157 Germany … 50 68 Ireland (Note 2) … 55 13 Italy … 31 94 Luxembourg … 16 1 Netherlands … 17 38 United Kingdom … 75 463 (Note 3) Notes
1. Yields for overseas countries are taken from Revenue statistics of OECD member countries 1965–72.
2. Substantial changes are proposed in Ireland in legislation now before the Dail.
3. Yield for fiscal year 1972–73; estimates yield 1975–76 £335 million.