§ Mr. David Mitchellasked the Chancellor of the Exchequer what is the estimated reduction in corporation tax liability of the corporate sector due to stock appreciation allowance and the net yield of corporation tax for the same period.
§ Mr. Denzil DaviesNet receipts of corporation tax in 1974–75 were £2,859 million, and the revised estimate of the cost in that year of stock relief is £720 million. The Budgest estimate of the yield of corporation tax in 1975–76 is £2,125 million, and the estimated cost of stock relief in that year is £1,230 million as given in the Financial Statement and Budget Report 1975–76, page 12, Footnote 2 to Table 4.