§ 47. Mr. Goodhartasked the Chancellor of the Exchequer what estimate he has made of the amount of revenue that will be raised by the Selective Employment Tax in a full year from sporting clubs and organisations.
§ Mr. MacDermotNo precise estimate can be given, but, excluding professional sport, it is unlikely to exceed half a million pounds.
§ Mr. Stratton Millsasked the Chancellor of the Exchequer what arrangements he will make to ensure that overdraft facilities to enable firms to pay the Selective Employment Tax pending payment of the refund are available.
§ Mr. CallaghanI would refer the hon. Member to the reply which I gave today to the hon. Members for Horsham (Mr. Hordern) and Stoke-on-Trent, Central (Mr. Cant).
§ Mr. Bruce-Gardyneasked the Chancellor of the Exchequer what he estimates will be the total revenue from contributions to the Selective Employment Tax levied on employers prior to the first payments of rebates and premiums; and 171W what would be the percentage increase in bank advances which would be required if all these contributions were financed from bank borrowing.
§ Mr. MacDermotBy private employers, about £280 million. The question does not arise of financing this amount from bank advances.