§ Mr. Cohenasked the Chancellor of the Exchequer if he will estimate the total saving of tax to (a) the wealthiest 5 per cent. and (b) the wealthiest 10 per cent. of the population in terms of (i) income and (ii) capital as a result of reductions made in income and capital taxes since 1979.
§ Mr. MooreThe following estimates have been calculated on the same basis as the reply which I gave to the hon. Member for Workington (Mr. Campbell-Savours) on 14 February 1985, column292. £2.6 billion of the income tax reductions are in respect of the 10 per cent. of taxpayers with the highest incomes. Of this, £2.1 billion is in respect of the top 5 per cent.
Virtually the whole of the reduction of £350 million in capital transfer tax accrues to the wealthiest 10 per cent. in terms of capital and all except about 1 per cent. of it to the wealthiest 5 per cent.
I regret that it is not possible to analyse the reductions of income tax on the basis of the distribution of wealth, of capital transfer tax on the basis of the income distribution, or the reduction of capital gains tax on either basis.
§ Mr. Kaufmanasked the Chancellor of the Exchequer if he will estimate, for the last financial year, receipts of income tax, corporation tax and value added tax derived from Cumbria, Lancashire, Merseyside, Greater Manchester and Cheshire.
§ Mr. MooreFor counties, the available information on income tax is on amounts due rather than receipts. 601W Estimates for 1982–83 (the latest available) of that due from people resident in each of the five counties are as follows:
Amount of Income Tax Area £ million Cumbria 267 Lancashire 903 Merseyside 768 Greater Manchester 890 Cheshire 711 Source: The Survey of Personal Incomes 1982–83.
I regret that estimates of corporation tax and value added tax are not available.