§ Mr. Austin Mitchellasked the Chancellor of the Exchequer whether he will publish in the Official Report a table showing his estimate of the proportion of revenue from taxation in the current financial year accounted For by taxes on capital, including non-domestic rates, and taxes on labour; and if he will provide similar estimates For 1956, 1966, 1976 and 1979.
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§ Mr. Norman LamontI regret that the information the hon. Member requires is not available for financial years 1956–57, 1966–67 and 1986–87. However, tables 6.5 and 6.B.3 in the "Financial Statement and Budget Report" provide some details of the budget forecast of revenues for 1986–87. Figures for taxes on capital and labour as a proportion of total taxes for 1976–77 and 1979–80 are given below along with figures for 1985–86, the latest year for which data is available.
Percentages Taxes on capital Taxes on labour Other Total Financial year 1976–77 17–6 54.9 27.5 100.0 1979–80 18.9 49.2 31.9 100.0 1985–86 23.9 43.4 32.7 100.0 Taxes on capital include corporation tax, North sea taxes and royalties, income tax on investment income, surtax, capital gains tax, capital transfer tax and estate duty, development land tax, the betterment levy, and local authority non-domestic rates.
Taxes on labour include income tax on earned and self-employment income—including pensions, benefits to the unemployed, and statutory sick pay — employers' and employees' national insurance contributions and national insurance surcharge. The data for earlier years have been adjusted, to reflect the current arrangements for giving relief at source for life assurance premiums and mortgage interest, in order to produce a consistent series.