§ Mr. Gryllsasked the Chancellor of the Exchequer if he will state the individual cost in the financial year 1978–79 and the estimated cost in the financial year 1979–80, to the Exchequer, of each of the following measures incorporated in the 1978 Finance Act (a) increases in the business relief and the threshold for capital transfer tax, (b) increases in the profits threshold for the small company rate of corporation tax and (c) the change in registration level for value added tax.
§ Mr. Robert Sheldon, pursuant to the reply [Official Report, 13 March 1979; Vol. 964, c. 150–1], gave the following information:
- a. As regards capital transfer tax my right hon. Friend gave the cost of the changes he announced on 26 October 1977 as £65 million in 1978–79 and £100 million in a full year.—[Vol. 936, c. 1441.]
- b. As regards the cost of increasing the limits for small company relief, the estimates announced in last year's Budget were £11 million in 1978–79 and £20 million in a full year—Financial Statement and Budget Report 1978–79, p. 36.
- c. As regards the cost of increasing the registration limits for value added tax, the estimates announced in last year's Budget were £5 million in 1978–79 and £15 million in a full year—Financial Statement and Budget Report 1978–79 p. 36.