§ 32. Mr. McKayasked the Chancellor of the Exchequer what total amount he estimates would accrue to the Treasury by increasing the Income Tax by 6d. at the standard rate and 3d. at the reduced rates; and what amount would accrue from each of these increases.
Mr. AmoryAbout £140 million, of which about £90 million is attributable to 6d. on the standard rate and about £50 million to 3d. on each of the reduced rates.
§ Mr. McKayInstead of taking 6d. off Income Tax in April, would the Chancellor consider allocating some money as a supplement to the National Insurance Fund so that higher pensions may be paid?
§ 34. Mr. McKayasked the Chancellor of the Exchequer the tax relief at present under the National Insurance Act for a married man with one child under 12 years with £7 per week, with £13 per week, and with £18 per week, respectively.
Mr. AmoryThe Income Tax relief to a married man with one child under 11 years is nil. 11d. and 1s. 8d. a week, respectively.