§ 51. Lieutenant-Colonel ROUNDELLasked the Chancellor of the Exchequer 1061 whether he can give an estimate of the cost of removing the joint assessment to Income Tax of husbands and wives?
§ The CHANCELLOR of the EXCHEQUER (Mr. Chamberlain)The immediate annual loss to the Exchequer would be £20,000,000. The loss would, however, be an increasing one, and might easily reach in a short time £50,000,000 per annum.
§ Mr. G. LOCKER-LAMPSONAre we to understand that this very large sum is the measure of the present injustice to married persons, and will my right hon. Friend consider the possibility of meeting the cost of the reform out of a tax on bachelors?
§ Mr. CHAMBERLAINMy hon. Friend's first question is in the nature of argument. I will only say No to it. I do not agree. As to the second, I will not anticipate my Budget Statement.