§ Mr. Cartwrightasked the Chancellor of the Exchequer, what was the yield from the stamp duty on house purchase during the years 1975–76, 1976–77, 1977–78, 1978–79 and 1979–80; and what is the estimated yield during the current financial year.
§ Mr. Peter ReesThe estimated yield of stamp duty from residential property in the years 1975–76 to 1979–80 was as follows:
£ million 1975–76 45 1976–77 60 1977–78 85 1978–79 120 1979–80 250 It is now estimated that the yield in 1980–81 will be about £225 million. The reduction compared with an earlier estimate of £240 million given in reply to my hon. Friend the Member for Faversham (Mr. Moate) on 22 May 1980—[Vol. 985, c. 701–2]—is due to a decline in the expected value of sales and in the rate of increase in house prices.