Company taxation down

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from Dick Kempshall

Mr Callaghan in oral answers on 22nd. June (Hansard Col. 1460) stated that between 1951-52 and 1964-65 the average annuel increase in Supply Exe penditure was £228 million, or 4.8%; the average annual increase in revenue from purchase, income and company taxation was £143 million, or 4.4%. He then added that whereas the percentage of increased revenue from income tax and surtax on persons has gone up by 129% in that period, the percentage decrease in company taxation has been 7%. The following is the table sup= plied in Hansard: Government Supply Expenditure & Certain Categories of Revenue, 1951-2 & 64-5

gmillion at prices of year %increase/ f&million Average 7 Rs

1951-2 1964-5 Increase/. aecrease atprices increase/ §

decrease of year decrease

per year .

average

increase

decrease :

per year Sw ex=

aes ae 3,513 6,480 2,967 84 228 4.8 Revenue ¢ Purchase tax 338 633 295 87 23 49 Income tax on persons & unincorporat= (including surtax) Com

rene ae asf = 8754-23 e “2 -0.2

2,466 4,329 1,863 76 143 AeA

—— eC C020 OO EE * Includes profits tax, excess profits tax and excess profits levy, together with income tax paid by companies. pf Includes tax paid by public corporations amounting to approximately £5million in each yeare ;