§ Mr. FauldsTo ask the Minister for the Arts what is the total amount of tax satisfied consequential on the acceptance of objects and property in lieu of inheritance tax and capital transfer tax which have been covered in the public accounts by means of resort to the Reserve in respect of the five financial years since the written answer on 26 July 1985 on behalf of the then Minister for the Arts,Official Report, column 779; and if he will indicate the average annual figure which would arise from a breakdown of the total amount.
§ Mr. LuceThe amount of tax satisfied by means of resort to the Reserve in the last five financial years is listed in the table. Due to underspends in each financial year on the annual provision of £2 million provided jointly by my Department and that of my right hon. Friend the Secretary of State for the Environment for the acceptance in lieu of objects and property, the amount actually spent from the Reserve was less than the original call. I list the actual money spent from the Reserve from the hon. Member's information.
440W
Year Amount of tax Satisfied/Call on the Reserve Amount actually spent from the Reserve £ £ 1985–86 520,000.00 366,707.00 1986–87 1,165,000.00 947,842.00 1987–88 7,338,444.00 6,627,464.00 1988–89 5,584,692.88 4,719,816.88 1989–90 9,977,898.00 9,513,768.05 Total 24,586,034.88 22,175,597.93 Annual average 4,917,207.00 4,435,120.00