§ Mr. Wigleyasked the Chancellor of the Exchequer what is the estimate of revenue forgone in 1985 from exempting gains in the value of sole or main residences from the provisions of capital gains tax in (a) the United Kingdom and (b) Wales.
§ Mr. Moore[pursuant to his reply, 13 May 1986, c. 451]: Only very tentative estimates are possible. For 1985–86, (a) about £2,500 million; (b) less than £100 million. The estimates assume that there would be no relief for gains when disposal proceeds are applied to the purchase of another dwelling, and that there would be no consequential effects on the length of ownership and on the housing market.