§ 69. Sir L. Lyleasked the Chancellor of the Exchequer what would be the approximate cost of treating annuities half as capital and half as interest for Income Tax 1063 purposes, in the case of all annuities producing not more than £500 per annum, and in respect of a person over 60 years of age?
§ The Financial Secretary to the Treasury (Captain Crookshank)My right hon. Friend regrets that he is unable to give any estimate of the cost of such a proposal, as the information required is not available.
Dr. Russell ThomasIn view of the fact that these people have worked hard all their lives, does the right hon. and gallant Gentleman think it an equitable distribution of the financial burden to tax these people 10s. in the £ on their capital?
§ Captain CrookshankThe information is not available because we do not know how many such people there are.