§ 32. Mr. BLACKasked the Chancellor of the Exchequer whether he will state, as approximately as possible, the total national income from all sources for the years ending April, 1923, and 1924?
§ Mr. SNOWDENI know of no estimate of national income having been made for these years.
§ 33. Mr. BLACKasked the Chancellor of the Exchequer the total gross amount of national income, as ascertained by the surveyors for Income Tax, before deductions of any kind are made for the years ending April, 1923, and 1924?
§ Mr. SNOWDENAs the reply contains a number of figures, I will, with the hon. Member's permission, circulate it in the OFFICIAL REPORT.
§ Following is the answer:
§ Final statistics for the years 1922–23 and 1923–24 are not yet available, but the following estimates have been made for the year 1922–23 of the income assessable under the Income Tax Acts:
| United Kingdom. | |
| £ | |
| Gross Income | 2,900,000,000 |
| Deductions (necessary to reduce the gross income to the actual income liable to tax for exemptions, repairs to property, wear and tear of machinery, overcharges in assessment, etc. | 600,000,000 |
| Actual income liable to tax, before deductions of personal or family allowances and reliefs | 2,300,000,000 |
§ It will be appreciated that the significant figure above is that showing the estimated actual income, which means the statutory income of taxpayers, estimated in accordance with the provisions of the Income Tax Acts, and excluding the income of individuals with a total income not exceeding £135 of assessable income. Only a minute portion of the income of such individuals comes under the notice of the Board of Inland Revenue.