§ Mr. Hooleyasked the Chancellor of the Exchequer (1) if he will tabulate in the OFFICIAL REPORT the total net yield of company taxation in each of the financial years 1958–59 to 1968–69, inclusive, the percentage of total government revenue which this represented in each of those years, and also its percentage of the gross national product, together with estimated corresponding figures for the current financial year;
(2) if he will tabulate in the OFFICIAL REPORT the total net yield of income tax and surtax in each of the financial years 1958–59 to 1968–69, inclusive, the
TABLE 1958–59 1959–60 1960–61 1961–62 1962–63 1963–64 Income Tax and Surtax* £m. 2,485 2,397 2,618 2,944 3,005 2,927 Income Tax and Surtax as percentage of Government Revenue § 46.5 44.2 45.5 45.9 45.4 43.5 Income Tax and Surtax as percentage of Gross National Product║ 12.1 11.0 11.3 12.0 11.6 10.5 Taxes on income borne by the personal sector† £m. 1,725 1,789 2,064 2,305 2,470 2,531 Taxes on income borne by the personal sector as percentage of Government Revenue§ 32.3 33.0 35.8 36.0 37.3 37.6 Taxes on income borne by the personal sector as percentage of Gross National Product║ 8.4 8.2 8.9 9.4 9.6 9.1 Company Taxation‡ £m. 944 791 761 947 897 757 Company Taxation as percentage of Government Revenue§ 17.7 14.6 13.2 14.8 13.6 11.2 Company Taxation as percentage of Gross National Product║ 4.6 3.6 3.3 3.8 3.5 2.7
1964–65 1965–66 1966–67 1967–68 1968–69 1969–70 (Estimates) Income Tax and Surtax* £m. 3,272 3,887 3,480 4,053 4,561 5,121 Income Tax and Surtax as percentage of Government Revenue § 43.6 46.2 37.8 39.4 38.2 37.3 Income Tax and Surtax as percentage of Gross National Product║ 11.0 12.2 10.4 11.5 12.3 N.A. Taxes on income borne by the personal sector† £m. 2,904 3,572 3,704 4,123 4,730 5,254 Taxes on income borne by the personal sector as percentage of Government Revenue§ 38.7 42.5 40.2 40.1 39.6 38.3 Taxes on income borne by the personal sector as percentage of Gross National Product║ 9.7 11.2 11.1 11.7 12.8 N.A. Company Taxation‡ £m. 762 713 881 1,055 1,097 1,445 Company Taxation as percentage of Government Revenue § 10.1 8.5 9.6 10.3 9.2 10.5 Company Taxation as percentage of Gross National Product║ 2.6 2.2 2.6 3.0 3.0 N.A. Notes:
* Net United Kingdom receipts.
† Including tax on company distributions. After the financial year 1965–66 the difference between income tax and surtax and taxes borne by the personal sector is largely accounted for by the amount of PAYE and Schedule 12 deducted from persons but withheld by the company sector.
‡ Includes Income Tax and Profits Tax and/or Corporation Tax as appropriate, after crediting income tax recovered on distributions.
§ Taxes on income, expenditure and capital.
║ Gross National Product at factor cost and current prices.
172Wpercentage of total government revenue which this represented in each of those years, and also its percentage of the gross national product, together with estimated corresponding figures for the current financial year.
§ Mr. TaverneThe figures are given below. Prior to the introduction of corporation tax, companies paid income tax under Schedule D. There is thus an overlap between the figures of income tax and surtax, on the one hand, and tax on companies, on the other. To avoid this overlap an additional set of figures—taxes paid by persons—is also given.
Following are the figures: