§ 80. Mr. G. MACDONALDasked 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-LAWRENCEIt 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.