§ Mr. Stuart Hollandasked the Chancellor of the Exchequer (1) what has been the effective tax paid by the top 25 and
1968–69 £ million 1978–79 1. Corporation tax receipts 1,344 3,940* 2. Investment grants paid† (Industrial Development Act 1966) 475‡ — 3. Regional development grants paid† (Part I of the Industry Act 1972) —¶ 417†‡ 4. Regional employment premium paid† (Selective Employment Payment Act 1966, as amended) 103 —¶ 5. Reduction in corporation tax receipts due to: (a) Capital allowances Data not available 2,650§ [...] (b) Stock relief —¶ 1,350[...] * Includes advance corporation tax £1,422 million. † Includes payments to unincorporated businesses not liable to corporation tax. ‡ The figures shown in lines 2 and 3 are not comparable as the grant schemes differ as to area type of assets, and rate of grant. § Excludes financial companies and public corporations for which information is not available. ¶ These costs each assume that all other tax reliefs continue, and consequently the combined cost of the two reliefs is not the sum of these two figures. The combined cost of stock relief and capita' allowances in 1978–79 is estimated at £4,300 million. § ¶ Not applicable.