§ Sir Peter HordernTo ask the Chancellor of the Exchequer what was the revenue derived in the last year for which figures are available from capital gains tax on assets held for more than(a) 10 years, (b) 15 years and (c) 20 years.
§ Mr. Norman LamontThe liability to capital gains tax, expressed as a proportion of the total net liability accruing on the disposal of assets during 1985–86, is estimated to be about(a) 50 per cent., (b) 30 per cent. and (c) 20 per cent. respectively. These figures exclude tax on the capital gains of companies chargeable to corporation tax.
Mr. John M. TaylorTo ask the Chancellor of the Exchequer what representations he has received regarding the effects of capital gains tax upon the deployment of investment in British business.
§ Mr. Norman LamontMy right hon. Friend has received a number of representations.