§ Mr. MeacherTo ask the Chancellor of the Exchequer if he will estimate the probable loss of capital gains tax arising from the foreign ownership of United Kingdom assets involved in transactions each year from 1981 to 1993–4; and if he will estimate the volume of United Kingdom assets in foreign ownership in which transactions occurred for each of these years.
§ Mr. Kenneth ClarkeThe information on which to base reliable estimates is not available.
§ Mr. MeacherTo ask the Chancellor of the Exchequer what estimate he has made of the loss to the Exchequer in each year since 1981 from non-payment of capital gains tax on capital gains accruing to(a) United Kingdom residents and (b) foreign claimants on offshore tax havens.
§ Mr. Kenneth ClarkeThe figures for uncollected capital gains tax for each year since 1981 are as follows:
436W
Year Amount in thousands 1981 2,734 1982 4,868 1983 6,496 1984 5,998 1985 7,562 1986 10,064 1987 8,822 1988 12,680 1989 10,864 1990 12,002 1991 29,721 1992 57,836 Information is not available to break down the figures between United Kingdom residents and foreign claimants.
§ Mr. MeacherTo ask the Chancellor of the Exchequer if he will list those reports and studies made or commissioned by his Department into the loss of capital gains tax arising from foreign ownership of United Kingdom assets since 1981; and if he will list each of those occasions when the Inland Revenue has requested a study of the potential loss of capital gains tax arising from foreign ownership of United Kingdom assets.
§ Mr. Kenneth ClarkeWe have made no such studies.