§ Mr. Hordern
asked the Chancellor of the Exchequer if he will give an estimate of the total deferred tax liability of United Kingdom companies arising from the stocks appreciation provisions now in force.
§ Mr. Robert Sheldon
The net reduction in corporation tax payments by companies in the three years ending 31st March 1977, as a result of stock relief, is estimated at approximately £3,000 million. For the great majority of companies, whose stock levels are maintained or increased, this deferral should extend into the indefinite future.