§ 27. Mr. Dykesasked the Chancellor of the Exchequer what would be the estimated loss of revenue per annum, on the latest statistics available, if the two top rates of surtax were abolished.
§ Mr. Patrick JenkinAbout £15 million.
§ Mr. DykesNaturally, I do not wish to press my right hon. Friend on this matter so close to the Budget, but does not this miniscule figure indicate that the abolition of these top rates would help increase managerial and entrepeneurial incentives without in any way impairing the fundamental principles of an equitable distribution in income tax and surtax?
§ Mr. JenkinIt would be better at this stage for me to say no more than that I am grateful to my hon. Friend for his forbearance.