§ Mr. Malcolm BruceTo ask the Chancellor of the Exchequer if he will estimate the revenue which would be raised by the Exchequer in(a) 1997–98 and (b) 1998–99 by ending capital gains tax reinvestment relief. [12744]
§ Mr. Jack[holding answer 27 January 1997]: The cost of capital gains tax reinvestment relief is tentatively estimated to be £65 million for 1997–98. Costs for later years would depend on future levels of capital gains and qualifying investment. In practice the yield from withdrawing the relief may be significantly different to the existing cost due to changes in taxpayers' behaviour.