§ 48. Mr. TINKERasked the Chancellor of the Exchequer whether he will give an approximate estimate of the increase to the Treasury if Sur-tax started on incomes of £1,500 instead of the present rate of £2,000?
Mr. CHAMBERLAINThe Sur-tax is graduated by way of charging a higher rate on each slice of income in excess of £2,000, and the yield from lowering the limit to £1,500 would depend upon the graduation that would apply in respect of the slices of income in excess of £1,500. If the graduation were similar to that obtaining at present, the increased yield would be nearly £7,000,000, of which £6,500,000 would be payable by the existing body of Sur-tax payers.