§ Mr. Douglas Hoggasked the Chancellor of the Exchequer whether he will provide estimates of the effect of stock relief on receipts of corporation tax in the financial year 1980–81, together with a breakdown between the main industrial sectors.
§ Mr. Peter ReesIt is tentatively estimated that the effect of stock relief on receipts of corporation tax in 1980–81 will be approximately £2 billion; distributed over the main industrial sectors as follows:
£million Manufacturing 900 Distribution 500 Other home industrial and commercial* 400 Others (including financial) 200 2,000 * Agriculture, forestry and fishing, mining, construction, water, transport, services (other than transport, distribution and finance).