HC Deb 06 June 1995 vol 261 cc82-3W
Mr. Frank Field

To ask the Chancellor of the Exchequer if he will estimate for(a) 1995–96 and (b) for a full year, the revenue cost/yield of altering the top rate of income tax and the top rate of capital gains tax from 40 per cent. to (a) 30 per cent. and (b) 50 per cent. on gross income and capital gains over (i) £30,000, (ii) £70,000, (iii) £80,000 and (iv) £100,000, assuming that (1) where the new top rate is lower than 40 per cent. the 40 per cent. band is abolished and (2) where it is higher, the 40 per cent. band remains in place; [25012]

(2) if he will estimate or (a) 1995–96 and (b) for a full year, the revenue/cost yield of altering the top rate of income tax from 40 per cent. to (a) 30 per cent. and (b) 50 per cent. on gross income over (i) £30,000, (ii) £70,000, (iii) £80,000 and (iv) £100,000 assuming that (1) where the new top rate is lower than 40 per cent. the 40 per cent. band is abolished, and (2) where it is higher, the 40 per cent. band remains in place. [25013]

Sir George Young

Estimates covering this range of options were given in my reply to the hon. Member on 25 May 1995,Official Report, columns 713–14. Separate figures on capital gains tax were given in my reply to the hon. Member on 11 May 1995, Official Report, column 259.

Mr. Gordon Prentice

To ask the Chancellor of the Exchequer what are the number and percentage of basic rate and higher rate tax payers in(a) Lancashire and (b) the United Kingdom for the most recent year for which figures are available. [26569]

Sir George Young

The table provides estimates for 1992–93, the latest available year for which information can be provided below the United Kingdom level.

3.6, 5.6 and 5.9 of the Central Statistical Office Blue Book 1994 edition, United Kingdom national accounts, which is available in the Library of the House. The corresponding data for manufacturing are not available, other than depreciation which is published in table 14.1 of the CSO Blue Book. More up-to-date information, including that for 1994, will be published in the 1995 edition of Blue Book, on 3 August 199.

Mr. Austin Mitchell

To ask the Chancellor of the Exchequer if he will bring up to date the table in the answer dated 31 July 1981,Official Report, column 600, showing the net rate of return at current replacement cost of manufacturing companies. [25685]

Mr. Nelson

I refer the hon. Member to the reply given him on 12 January 1995,Official Report, column 191. The data have not been updated since. More up to date information will be published in the CSO's "First Release", "Profitability of UK companies", which will next be issued on 11 July 1995.

Mr. Austin Mitchell

To ask the Chancellor of the Exchequer if he will bring up to date his answer of 19 July 1983,Official Report, column 81, showing the net rate of return at historic cost of manufacturing companies. [25616]

Mr. Nelson

The data are not yet available at historic cost under the new definition of manufacturing. For rates of return at current replacement cost, I refer the hon. Member to the reply given him on 12 January 1995,Official Report, column 191.

Mr. Austin Mitchell

To ask the Chancellor of the Exchequer if he will bring up to date the table in the answer of 11 February 1980,Official Report, columns 436–38, concerning profits of large manufacturing companies and the money supply. [25681]

All companies Manufacturing Financial institutions
Number of companies 000 Losses £ million Number of companies 000 Losses £ million Number of companies 000 Losses £ million
1985 120 8,800 25 2,500 10 1,600
1986 120 10,100 25 3,000 10 2,000
1987 120 12,700 25 3,100 10 4,200
1988 130 13,700 25 2,900 10 2,500
1989 140 20,000 25 3,900 10 5,600
1990 160 23,700 30 4,800 10 9,200
1991 160 29,500 30 5,400 10 9,200
1992 160 26,200 30 4,700 10 8,400

Losses are "Gross Case I" losses, i.e. after deducting short-term interest and before deducting depreciation.

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