HC Deb 31 July 1974 vol 878 cc243-4W
Mr. Newton

asked the Chancellor of the Exchequer what is the yield of taxes on capital per head of the population in the United Kingdom, other members of the EEC, the USA, Norway, Sweden, Australia, New Zealand and South Africa.

Dr. Gilbert

, pursuant to his reply [23rd July 1974], gave the following information:

The latest year for which comparable figures are available is 1971 for which the percentages are as below:

Country Taxes on capital—£per head of population
United Kingdom … … … 10
Belgium … … … 5
Denmark … … … 7
France … … … 2
Germany … … … 6
Ireland … … … 3
Italy … … … 2
Luxembourg … … … 7
Netherlands … … … 12
U.S.A. … … … 20
Norway … … … 8
Sweden … … … 8
Australia … … … 8
New Zealand … … … 5
South Africa … … … Less than
1

NOTE. The figures refer to taxes on capital levied on individuals only. The Blue Book usage, from which the figures for the United Kingdom in the table above are derived, includes, in common with OECD practice, under this heading taxes on capital gains, transfers of capital, death duties and a small portion of investment income.