§ Mr. Tim Rentonasked the Chancellor of the Exchequer whatwas the cost of 249W assessing and collecting development land tax; and what revenue was raised from it in 1977–78 or the period for which most recent figures are available.
§ Mr. Denzil DaviesThe estimated annual cost is £1,625,000 at current prices.
The yield in 1977–78 was £7.2 million. In addition, it is estimated that the benefit in the year to acquiring authorities from the net of tax arrangements was approximately £6.6 million.