§ 11. Mr. John MarshallTo ask the Chancellor of the Exchequer how many people he anticipates will benefit as a result of his abolition of composite rate tax.
§ Mr. LilleyAn estimated 14 million people will benefit from the abolition of composite rate tax.
§ Mr. MarshallMay I thank my hon. Friend for listening to the representations that I and others made? As 474 all those 14 million people are small savers, the change will be welcomed by many people other than the immediate beneficiaries.
§ Mr. LilleyI am grateful for my hon. Friend's opening remarks. His representations, along with those of others, played a part. Some 5 million women, 4 million pensioners, 2½ million other adults and 2½ million children will benefit from the removal of that unfair form of taxation on small savers.