§ 64. Sir FREDERICK BANBURY
asked the Chancellor of the Exchequer how many people paid Income Tax for the year ending March, 1920, and how many it is anticipated will pay Income Tax under the new arrangements set forth in the Finance Bill?
The number of individuals liable to Income Tax for the year 1919–20 is estimated at 3,700,000. The number of individuals that will pay Income Tax for the year 1920–21 under the present Budget proposals is estimated to be 2,450,000. These figures do not include individuals whose incomes are above the exemption limit but who, by reason of reliefs and allowances, will not be liable to Income Tax.