Capital Gains and Capital Transfer Taxes

HC Deb 13 July 1979 vol 970 cc307-8W

Mr. Morgan

asked the Chancellor of the Exchequer whether he intends that any reductions in the incidence of capital gains and capital transfer taxes that may result from his proposed detailed study of those forms of revenue shall have effect, retrospectively, from the date of his last Budget statement.

Mr. Peter Rees

As far as capital transfer tax is concerned, I refer my hon.

Mr. Biffen

Estimates for gross national product have been derived from data published by the IMF.

year 1973 to 1978 of manufacturing output and 1973 to 1976 for manufacturing output per employee.

Friend to the written answer I gave my hon. Friend the Member for Brigg and Scunthorpe (Mr. Brown) on 2 July 1979 [Vol. 969, c. 448–9]. Decisions on any changes to the tax on capital gains must await the outcome of my right hon. and learned Friend's study of that tax.