§ Mr. Bruce-Gardyneasked the Chancellor of the Exchequer what has been the total yield to date from the long-term Capital Gains Tax, and the cost to public 385W funds of administration and collection; what estimate he has made of the cost to the individual and corporate tax-payer of calculating and negotiating liability; and if he will give the change in the average value of share prices over this period to which these figures refer.
§ Mr. Harold LeverThe total yield, including Corporation Tax on the capital gains of companies, to 1st February, 1969, is estimated at£85 million. I regret that information about costs to public funds and taxpayers is not available.
The Financial Times—Actuaries All Share Index stood at 98.73 on 6th April, 1965, and at 180.97 on 31st January, 1969, an increase of 83 per cent. The yield of£85 million, however, includes very little, if any, tax on gains realised after 5th April, 1968, when the All Share Index stood at 140.12, an increase of 42 per cent.