§ Mr. Ellis Smithasked the Chancellor of the Exchequer (1) if he will set out in tabular form in the OFFICIAL REPORT the totals paid and the percentage change in taxation in 1953, 1963, and 1964 by companies and individual taxpayers both in direct and indirect taxation;
(2) what was the percentage increase in taxation, direct and indirect, paid by individual taxpayers between 1953 and 1964.
§ Mr. MacDermotThe available information is given in the table below:
panies between 1953 and 1964; and what percentage this represents of the total taxation raised.
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§ Mr. MacDermotThe latest estimate of United Kingdom tax paid by companies, after crediting the Income Tax that they pass on to shareholders by deduction from distributions, is £812 million in 1964. The figure for 1953 (which also includes Excess Profits Levy) was £944 million. The decrease of £132 million represents 2 per cent. of £6,895 million which is the total tax revenue (as defined in the National Income Accounts) of the Central Government in 1964.