HC Deb 06 May 1976 vol 910 cc444-5W
20. Mr. Peter Morrison

asked the Minister of Agriculture, Fisheries and Food if he will make a statement on the effects of capital transfer taxation on agricultural production in the United Kingdom.

Mr. Bishop

The full effects will not be felt for some years, and it is too soon to reach definite conclusions. I would not expect the tax to have any measurable effect on agricultural production in the light of reliefs and exemptions which have been made available, together with those proposed in the current Finance Bill.