§ 17. Mr. Lipton
asked the Chancellor of the Exchequer what the cost would be of exempting owner-occupiers of dwellings with a net annual value not exceeding £60 from the payment of Income Tax under Schedule A.
§ Mr. Lipton
Is the right hon. Gentleman aware that, if it is still the policy of the Government to encourage a property-owning democracy, the exemptions suggested in this Question would be very welcome? Will he also bear in mind that it may not cost as much as £29 million because many of these owner-occupiers have an income which is so low that they do not pay Income Tax at the full standard rate of 8s. 6d.?
I could not quite hear what the hon. Gentleman said, but the point he mentioned at the end of his supplementary question has been taken into account.
§ Mr. Bellenger
But is the figure the right hon. Gentleman has given a gross figure without consideration of maintenance claims for repairs, which must considerably reduce the figure he has given?