§ MR. J. RAMSAY MACDONALD (Leicester)I beg to ask Mr. Chancellor 1135 of the Exchequer whether he can state what is the estimated aggregate value of all incomes between the limits of £160 to £700 and £700 to £ 2,000; what proportion of the aggregate income between £ 160 and £2,000 is estimated to be earned, as defined in the Finance Bill; and whether any estimate has been formed of the aggregate value of pensions enjoyed by persons with incomes between £160 and£ 2,000.
§ THE CHANCELLOR OF THE EXCHEQUER (Mr. ASQUITH, Fifeshire, E.)It is possible, from the information obtained through claims for abatement, to estimate with approximate accuracy the aggregate of incomes lying between £160 and £700, and the amount (before deduction of abatements and allowance on life premiums) may be put at about £275,000,000. No similar data are available in respect of incomes between £700 and £2,000, and any estimate of the aggregate amount of such incomes must be exceedingly speculative. The figure of £150,000,000 has been suggested, but this cannot pretend to be anything but a guess. Of the total income between £ 160 and £ 2,000, it has been estimated that rather less than half—say about £ 200,000,000—would come within the definition of "earned" income contained in the Finance Bill. There are no materials for estimating the aggregate value of pensions enjoyed by persons with incomes between £160 and £ 2,000 per annum.