HC Deb 22 July 1958 vol 592 c201
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. Amory

About £29 million in a full year.

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.?

Mr. Amory

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?

Mr. Amory

To the best of my knowledge, it is an estimate of the net result.