HC Deb 03 July 1974 vol 876 cc166-7W
65. Mr. Willey

asked the Secretary of State for the Environment what were the amounts of revenue lost for each of the years 1971–72, 1972–73, 1973–74, and 1974–75, as a result of the abolition of the betterment levy by the Land Commission (Dissolution) Act.

Mr. Oakes

Since July 1970, when betterment levy was abolished, development gains have been taxed under the income tax, capital gains tax and corporation tax codes. Gains arising after 18th December 1973 will be liable to the new development gains charge. It would not be possible without undue expense to quantify the effects on revenue of the abolition of betterment levy.