§ Mr. Hordernasked the Chancellor of the Exchequer what would be the cost of 457W allowing relief for stock appreciation without the 10 per cent. deduction from profits, if stock appreciation relief were allowed at 90 per cent.
§ Mr. Joel BarnettIf the hon. Member has in mind the cost of substituting "90 per cent. of the base period stock-increase" for "the base period-increase less 10 per cent. of relevant income for the base period" as proposed in the Finance (No. 2) Bill then this is estimated at £725 million. Of that total £500 million relates to companies and £225 million to individuals and partnerships.
The estimates relate to accounting periods ending in 1974–75, taken as reflecting the two-year period then ending less relief given under Section 18 of the
ANNUAL CHANGES IN GROSS NATIONAL PRODUCT AND PUBLIC EXPENDITURE Per cent. increase on previous year Public expenditure at market prices Gross national product at factor cost Total Current expenditure on goods and services *Gross domestic capital formation Transfer payments, including net lending, etc. 1950 … … … 5.5 1.3 4.2 0.3 -1.2 1951 … … … 10.5 19.9 17.2 67.7 5.1 1952 … … … 8.2 10.3 18.9 1.4 5.2 1953 … … … 7.6 4.0 4.8 3.6 3.2 1954 … … … 5.8 -0.9 2.7 -14.7 2.2 1955 … … … 6.7 6.5 2.1 14.0 8.9 1956 … … … 8.5 6.3 8.1 8.9 2.8 1957 … … … 6.1 5.4 4.3 9.2 5.0 1958 … … … 4.4 4.6 2.2 0.1 10.3 1959 … … … 5.0 6.0 6.7 5.6 5.5 1960 … … … 6.3 7.2 6.2 1.8 11.1 1961 … … … 7.0 9.8 8.0 13.7 10.2 1962 … … … 4.7 6.7 7.2 7.3 5.8 1963 … … … 6.7 5.9 5.3 6.9 6.2 1964 … … … 8.4 9.4 6.4 23.6 6.1 1965 … … … 6.8 10.8 9.7 7.4 14.1 1966 … … … 5.8 8.3 8.8 14.1 4.7 1967 … … … 5.4 14.4 10.7 16.7 17.6 1968 … … … 6.9 9.0 6.3 2.7 15.7 1969 … … … 5.4 3.6 4.7 -2.6 5.6 1970 … … … 9.7 10.5 12.5 12.6 7.5 1971 … … … 12.4 11.4 13.8 9.9 9.5 1972 … … … 12.0 12.3 13.7 3.0 15.4 1973 … … … 15.7 16.9 12.7 20.8 19.7 1974 … … … 14.7 29.7 24.2 27.7 36.2 *Includes stockbuilding. Year to year changes in public expenditure are affected by changes in coverage.