§ Mr. Arthur Jones
asked the Chancellor of the Exchequer what is now the estimated yield from development land tax in England and Wales in 1976–77, 1977–78 and 1978–79.
§ Mr. Denzil Davies,
pursuant to his reply [Official Report, 31st January 1977; Vol. 925, c. 48], gave the following information:
Separate estimates are not available for the yield from development land tax in England and Wales. For the United Kingdom the gross receipts by Central Government are estimated at £1 million. There will be a further substantial benefit under the net of tax arrangements but it is not yet possible to quantify this. Estimates for 1977–78 and 1978–79 are not yet available but a forecast for 1977–78 will appear in the FSBR.