HL Deb 24 October 2000 vol 618 cc27-8WA
Lord Newby

asked Her Majesty's Government:

What is their estimate of the revenue yield from reintroducing a system of indexation of capital gains from 6 April 2001 and simultaneously abolishing taper relief from the same date for (a) non-business assets and (b) business assets for each of the next five financial years on an assumption of unchanged asset values in real terms. [HL4091]

Lord McIntosh of Haringey

Consistent with the assumptions of the March 2000 Budget forecast, the net revenue yield from reintroducing indexation and abolishing taper is estimated to be £400 million for the first year, most of which would be received in the following year. Further information in the form requested on the yield, in total and by type of asset, for subsequent years can be provided only at disproportionate cost.