§ Mr. Austin Mitchellasked the Chancellor of the Exchequer whether he will publish in the Official Report a table showing the forecast yield from stamp duty on the sale of (i) dwellings and (ii) securities in 1987–88, and comparable figures for 1957–58, 1967–68 and 1977–78, together with the rates of duty.
§ Mr. Ian StewartThe information is as follows:
572W
(i) Yield £ million Residential property Stocks and shares 1957–58 115 21 1967–68 125 45 1977–78 85 187 21987–88 680 890 1 Total duty on land and buildings. Separate figures for sales of dwellings are not available for these years.
2 Forecast.
(ii) Rates of duly Residential Property Per cent. Stocks and shares 1957–58 Considerations up to £3,500 0.5 All considerations 2 per cent. Considerations between £3,500 - £4,250 1.0 Considerations between £4,250 - £5,000 1.5 Considerations over £5,000 2.0 1967–68 (to 31 July 1967) Considerations up to £4,500 nil All considerations 1 per cent. Considerations between £5,500 - £6,000 0.5 Considerations over £6,000 1.0 (from 1 August 1967) Considerations up to £5,500 nil Considerations between £5,500 - £7,000 0.5 Considerations over £7,000 1.0 1977–78 Considerations up to £15,000 nil Generally 2 per cent. Overseas investors 1 per cent. Considerations between £15,000-£20,000 0.5 Considerations between £20,000 - £25,000 1.0 Considerations between £25,000 - £30,000 1.5 Considerations over £30,000 2.0 7957–55 Considerations up to £30,000 nil Generally 0.5 per cent. Considerations over £30,000 1.0