§ Mr. Weitzmanasked the Chancellor of the exchequer how much it would cost to give schedule E taxpayers the benefit of delayed payment under schedule D.
§ Mr. Robert SheldonMost schedule E tax is collected from employers under PAYE in monthly instalments, the first for an income tax year being in the middle of May and the last in the middle of the following April. Under schedule D arrangemnts, but maintaining the liability on the current year's income, the tax would be due in two instalments, 1 January and 1 July. At 1978–79 income levels and interest rates, the cost of financing this delay in collection by Government borrowing would be about £675 million a year, rising in subsequent years if incomes were to rise.
Year/Borrower Amount £ million
Project County/Region 1976— Post Office 17.6 Telecommunication North-West England British Steel Corporation 2.1 Steelworks Cumbria 1977— National Water Council 8.3 Water supply schemes Cheshire, Lancashireand Cumbria National Water Council 19.8 Water supply schemes North-West England 1978— National Water Council 16.0 Water supply and sewerage schemes North-West England National Water Council 14.0 Water supply schemes North-West England
§ Mrs. Kellett-Bowmanasked the Chancellor of the Exchequer if he will list in the Official Report the projects in the constituencies of North Fylde, Morecambe and Lonsdale, and Lancaster, and in other parts of Lancashire, respectively, which have received assistance from (a) the EEC regional fund, (b) the EEC social fund, (c) the European Investment Bank, and (d) the European agricultural guidance and guarantee fund, respectively.
Year Borrower Amount £ million
Project 1976 National Water Council 9.0 Water supply scheme 1977 Central Electricity Generating Board 52.3 Power station 1978 BICC metals 5.0 Copper refining plant