§ Mr. McInnesasked the Chancellor of the Exchequer whether he will provide an estimate of the probable yield for any recent and typical year of a capital gains tax similar to the estimate which the Board of Inland Revenue provided for the Royal Commission on the Taxation of Profits and Incomes.
§ Mr. BarberI would remind the hon. Member that the estimates provided by the Board of Inland Revenue to the Royal Commission related to the average yield to be expected in the long run and not to the yield of a single typical year. The yield for any particular year would depend both upon when the capital gains tax had been introduced and upon the actual gains and losses realised in the basis period. None of this information is available and without it it is impossible to answer the Question.