§ Mr. Austin Mitchellasked the Chancellor of the Exchequer whether he will publish in the Official Report his estimate of the carry over of (i) losses and (ii) allowances in the current financial year against corporation tax in the case of manufacturing industry.
§ Mr. MooreThe latest estimate is some £10 billion of tax losses of all kinds carried forward by manufacturing industry. The estimate is extremely tentative.
§ Mr. Austin Mitchellasked the Chancellor of the Exchequer what is his estimate of the carry-over of (a) losses and (b) allowances against corporation tax in the current financial year; and what is his estimate of the additional losses and reliefs which will be incurred in 1985 to carry forward.
§ Mr. MooreThe total of accumulated tax losses is about £25 billion, excluding the public sector. This 617W estimate is extremely tentative. I regret that it is not possible to project with sufficient reliability the extent of changes to this total during 1985.