HC Deb 31 January 1969 vol 776 cc409-10W
Mr. Sheldon

asked the Chancellor of the Exchequer what estimate he has made of the loss to the Revenue arising from the replacement of the short-term Capital Gains Tax by the long-term Capital Gains Tax at rates of 30 per cent., 32½ per cent. and 35 per cent.

Mr. Harold Lever

On the basis of the Budget estimate for 1968–69 the loss of revenue from short-term gains in each case would be £2½ million for the full year.

Mr. Sheldon

asked the Chancellor of the Exchequer what estimate he has made of the increase in revenue arising from an increase in Capital Gains Tax to 32½ per cent. and 35 per cent.

Mr. Harold Lever

About £4 million and £7 million respectively for the full year on the basis of the Budget estimate for 1968–69.