HC Deb 18 May 1931 vol 252 c1596
80. Mr. G. MACDONALD

asked the Financial Secretary to the Treasury what would be the estimated revenue from Income Tax for the year 1930–31 if the figure £1,500 were substituted for £2,000 in Clause 4 of Part II of the Finance Bill, and the higher rates as specified in the second column of the table in the said Clause were then applied?

Mr. PETHICK-LAWRENCE

It is estimated that the gain in a full year from such an increase would be about £7,000,000, of which about £500,000 would fall on individuals with total incomes between £1,500 and £2,000 who are not now liable to Surtax and £6,500,000 on the existing body of Surtax payers.