§ Mr. Lawsonasked the Chancellor of the Exchequer what additional yield to the revenue is expected to accrue in 1977 –78 and in subsequent years as a result of the passage of Clause 55 of the Finance Bill.
§ Mr. Robert Sheldon, pursuant to his reply [Official Report, 13th May 1976; Vol. 911, c. 226], gave the following information
For 1977 –78 and 1978 –79 the additional revenue is estimated to be almost the whole of the £35 million and £100 million shown in the Financial Statement as 480W resulting from the change in the treatment of fringe benefits. It is not possible to provide estimates for subsequent years as the yield will depend upon subsequent changes, for example, in the scales for cars and, more generally, in incomes and rates of tax.