§ Mr. Woofasked the Secretary of State for Economic Affairs how much money was raised through selective employment tax in the North East Region for each year since its inception; what is the estimated yield for the current financial year; and if he will give corresponding figures for the amount paid out through the regional employment premium and other aids to industry.
§ Mr. Frederick LeeIt is estimated that the net yield in a full year would be £16 million, £24 million, and £30 155W million, at the respective rates of tax obtaining, on introduction of the scheme, from September, 1968, and as proposed from July, 1969. Direct Government assistance on a preferential basis to industry in the Northern Development Area in the financial years 1966–67, 1967–68, and 1968–69 is estimated at about £15 million, £50 million, and £80 million, respectively.