§ 44. Mr. Swinglerasked the Chancellor of the Exchequer what is his estimate of the amount and proportion of Income Tax relief in his Budget which will accrue to the benefit of surtax payers.
§ The Economic Secretary to the Treasury (Mr. F. J. Erroll)About £40 million in a full year, or 24 per cent of the total relief going to individuals.
§ Mr. SwinglerIs it now clearly admit ed by the Chancellor that the way in which he chose to reduce Income Tax, namely, solely by cutting the standard rate, gave maximum and disproportionate benefit to the top people in the super tax class, whereas if some of the money had been used to increase allowances he would have given a larger and fairer proportion of the benefits to those who need money?
§ Mr. ErrollSurtax payers carry 35 per cent of the total burden, so they are getting less than their proportionate share of the total relief.