§ Mr. Nicholas BrownTo ask the Chancellor of the Exchequer if he will give the estimated gain to the Exchequer in 1988–89 and 1989–90 of reducing capital gains tax exemptions from £5,000 to(a) £1,000 and (b) £2,000; and what would be the number of people who would have chargeable gains on this basis.
§ Mr. Norman Lamont[holding answer 19 June 1989]: I regret that precise estimates are not possible, but the figures for gains realised in each of these years could be of the order of:
Annual exempt amount Increase in revenue Increase in number of taxpayers £ million '000 £1,000 300 500 £2,000 200 200
§ Mr. Nicholas BrownTo ask the Chancellor of the Exchequer if he will give the estimated gain to the 301W Exchequer in 1990–91 of reducing capital gains tax exemptions from £5,000 to (a) £1,000 and (b) £2,000 and the number of people who would have chargeable gains on this basis allowing for the impact of independent taxation.
§ Mr. Norman Lamont[holding answer 19 June 1989]: I regret that no sufficiently firm estimate can be made.