§ Mr. John Mooreasked the Chancellor of the Exchequer what corporation taxes have been paid by private industry and by the nationalised industries, respectively, in each year since 1945.
§ Mr. Denzil DaviesCorporation tax was introduced by the Finance Act 1965. The amount paid by the nationalised industry sector in subsequent years has been negligible. Total net receipts in each financial year are shown below.
£ million 1966–67 1,049 1967–68 1,214 1968–69 1,344 1969–70 1,697 1970–71 1583 1971–72 1,554 1972–73 1,533 1973–74 2,262* 1974–75 2,859 1975–76 1,995 * Figures from 1973–74 onwards include advance corporation tax.