§ Mr. George Y. Mackieasked the Chancellor of the Exchequer how many companies he expects to be close companies within the meaning of Schedule 17 to the Finance Bill; and how much additional revenue in the year 1965–66 and 1966–67 he expects to raise as a result of assessment under Clause 72(1) of the Bill.
§ Mr. DiamondIt is not expected that there will be any marked difference in98W the number of companies falling within Schedule 17 of the Finance Bill, as compared with the number within Section 245 of the Income Tax Act, 1952. The amount of revenue raised under Clause 72(1) will depend on the amount of companies' profits and the dividend policies they follow.