§ Mr. William Hamiltonasked the Chancellor of the Exchequer if he will publish the figures showing the total revenue derived from the capital gains tax introduced by his predecessor; and whether he is satisfied with the effectiveness of that tax.
§ Mr. DiamondThe total revenue from capital gains realised in 1962–63, the first year for which the tax operated, is provisionally estimated at between £1¼ million and £1½ million. These figures relate to gains realised on assets which had been both acquired and disposed of between 9th April, 1962, and 6th April, 1963. My hon. Friend will not expect me to anticipate my right hon. Friend's Budget Statement in answer to the second part of his Question.