HC Deb 17 April 1961 vol 638 c822

Therefore, in the circumstances of today, I propose to cover by far the greater part of the cost of the Surtax remission by increasing the Profits Tax by 2½ per cent. with effect from 1st April, 1961.

Mr. Collick


Mr. Lloyd

This is estimated to yield £1.5 million this year, £45 million in 1962–63 and £70 million in a full year. I believe that this switch of burden from the individual to companies will be generally approved.

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