§ Mr. William PowellTo ask the Chancellor of the Exchequer what was the annual yield of capital gains tax in each year since 1979 (i) at 1979 prices and (ii) at 1989 prices.
§ Mr. LilleyEstimates of receipts of capital gains tax paid by individuals and trusts are as follows:
£ million Year of receipt Actual receipts At 1979–80 prices1 At 1989–90 prices1 1979–80 431 430 860 1980–81 508 430 850 1981–82 526 400 800 1982–83 632 450 900 1983–84 671 460 910 1984–85 730 480 950 1985–86 908 560 1,120 1986–87 1,064 640 1,270 1987–88 1,379 790 1,560 1988–89 2,323 1,230 2,450 1989–902 2,100 1,060 2,100 1 Converted using the GDP market price deflator. 2 Forecast. Receipts in each year result from liabilities incurred over several previous years. These figures exclude receipts from capital gains of companies taxed within corporation tax.