§ Mr. Lilley
The tax liability in 1990–91 on investment income received by individual savers, including interest received on bank and building society accounts, national savings and dividends received from companies, is estimated at £10.5 billion. Tax reliefs on debt interest, for example mortgage interest relief, are excluded.
Other taxes relevant to savings are capital gains tax, inheritance tax and stamp duty. Forecasts of receipts in 1990–91 for each of these taxes are in table 1.2 of the 1990–91 Financial Statement and Budget Report. Not all these yields are derived from savings.