Capital Gains Tax

HC Deb 02 May 1967 vol 746 cc32-3W

45. Mr. Peter Mills

asked the Chancellor of the Exchequer to what extent the operation of the Capital Gains Tax on land will stimulate the productivity of the agricultural industry.

Mr. Diamond

No estimate can he made; nor have I any evidence to suggest that the Capital Gains Tax will operate to the disadvantage of agricultural productivity.

Mr. Peter Mills

asked the Chancellor of the Exchequer what is the estimated yield of Capital Gains Tax on land transactions in the last financial year, and the administrative cost of collection.

Mr. MacDermot

There is not enough information on which to base these estimates.