§ 25. Mr. Bellengerasked the Chancellor of the Exchequer whether he intends to introduce legislation in order that the new rateable values to come into operation in 1963 shall be thereafter used for the purposes of Schedule A Income Tax.
§ Sir E. BoyleThe right hon. Member will not be surprised when I say that I cannot make any statement on this subject at this time.
§ Mr. BellengerIs the hon. Gentleman aware that his right hon. Friend the Minister of Housing and Local Government made a very startling statement about rateable values, which are rising, as the hon. Gentleman well knows, by about four times the 1939 values? If the Schedule A net annual values follow the same course, it will mean that Schedule A tax for owner-occupiers and others will increase enormously. Does he not think it is high time that he or somebody else in the Government made a statement on this?
§ Sir E. BoyleThis point has not escaped the Government's attention, but the right hon. Gentleman will hardly expect a statement on this point during this week.
§ Mr. F. HarrisIs it not about time that the Government decided to abolish Schedule A tax altogether?
§ Sir E. BoyleI seem to remember that this subject has been discussed on earlier Finance Bills. My hon. Friend will have opportunities of discussing the matter again during the coming weeks.