§ Mr. Wakehamasked the Chancellor of the Exchequer what would be the appreciated value at the latest available date of an investment of £1,000 made on 5th April 1965, in order to retain the same purchasing power and sufficient to pay 250W capital gains tax at 30 per cent. on the appreciation.
§ Mr. Denzil Davies,pursuant to his reply [Official Report, 15th June 1977; Vol. 933, c. 200], gave the following information:
To maintain the purchasing power, measured by reference to the retail price index, of a sum of £1,000 invested in April 1965 it would have been necessary to realise net proceeds of £3,087 in April 1977; the appreciated value before payment of capital gains tax at 30 per cent. on the appreciation would, therefore, need to be £3,982.