§ Mr. Oakesasked the Chancellor of the Exchequer what amount of revenue was obtained from stamp duties on conveyances of land for a consideration between £4,500 and £6,000 for each of the last five years; and how many transactions were involved for each of these years.
§ Mr. MacDermotThe figures are as follows:
Estimated Numbers (1,000) Amount of Duty (£'000) 1961–62 36.7 2,283 1962–63 42.5 2,679 1963–64 67.0 2,252 1964–65 108.3 2,772 1965–66 105.9 2,712
§ Mr. Oakesasked the Chancellor of the Exchequer what would be the loss of revenue resulting from raising the exemption limits on the sale of property from £4,500 to £6,000, £6,500 and £7,000, respectively.
§ Mr. MacDermotAbout £3 million, £5 million and £6 million respectively, assuming that the rate of duty would be 1 per cent, above the new limit.
§ Mr. Oakesasked the Chancellor of the Exchequer what amount of revenue he obtained during each of the last five years from Stamp Duty on mortgages.
§ Mr. MacDermotThe figures published in table 170 of the 109th Report of the Board of Inland Revenue under the heading "Stamp Duties: Mortgages etc." are as follows:
£ million 1961–62 3.8 1962–63 4.3 1963–64 3.7 1964–65 3.7 1965–66 3.8
§ Mr. Oakesasked the Chancellor of the Exchequer if he will assist persons endeavouring to buy their own homes by exempting from Stamp Duty mortgages of less than £7,000.
§ Mr. MacDermotI have noted the hon. Member's suggestion.
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§ Mr. Oakesasked the Chancellor of the Exchequer what would be the estimated loss of revenue resulting from an exemption from Stamp Duty on mortgages of less than £4,500, £6,000 and £7,000, respectively.
§ Mr. MacDermotNo reliable estimates can be given.