§ 59. Mr. Nabarroasked the Chancellor of the Exchequer what was the estimated yield from the 60 per cent. rate of Purchase Tax in 1957–58 and 1958–59 and from the 50 per cent. rate in 1959–60; and what has been the revenue from the 50 per cent. rate during the first eleven months of the current financial year.
§ Mr. Selwyn LloydThe following is the Answer:
Financial Year Receipts £Million 1957–58 237.9 (a) 1958–59 232.9 (a) 1959–60 240.9 (b) 1960–61 to 31st December, 1960) 196.2 (c) NOTES:
(a) Includes some goods subsequently taken out of the 60 per cent. tax rate and excludes some goods subsequently brought into that rate.
(b) As Purchase Tax is payable quarterly in arrear the total for 1959–60 includes £62.1 million in respect of approximately one-quarter's tax at the 60 per cent. rate on goods reduced to the 50 per cent. rate in the 1959 Budget.
(c) Latest available figure.