HC Deb 29 March 1973 vol 853 c379W
Mr. Roper

asked the Chancellor of the Exchequer what is his estimate of the likely yield of a progressive tax on gifts in the United Kingdom comparable to the American Federal gifts tax; and what would be the likely effect on the yield from estate duty consequent upon the introduction of such a tax.

Mr. Nott

No reliable estimate can be made because there is not enough information about the current level and distribution of gifts.