§ Mr. Heddleasked the Chancellor of the Exchequer if he will estimate the percentage of time district valuers devote to work in connection with development land tax valuations and associated matters.
§ Mr. MooreYes, about 3 per cent. This figure includes time spent on such associated matters as administration, management and training.
§ Mr. Heddleasked the Chancellor of the Exchequer, if he will estimate the percentage of the total yield from development land tax that is collected through deemed disposals.
§ Mr. MooreThe percentage collected through deemed disposals is probably in the region of 15 per cent., but the information on which to base a precise estimate is not readily available.
§ Mr. Heddleasked the Chancellor of the Exchequer if he will estimate what additional revenue is received from the development land tax that would not otherwise have been collected through corporation or capital gains tax; and if he will express the cost of collecting development land tax as a percentage of that additional revenue.
§ Mr. MooreThe information on which to base a precise estimate is not available but the additional current revenue received could be in the region of £50 million. The estimated cost of collecting development land tax is 10 per cent. of that additional revenue. Some of that cost would remain if the tax were collected through other taxes.