§ Brigadier-General Sir O. THOMAS
asked. the Chancellor of the Exchequer what was the total assessment of unearned incomes in 1914 for the purpose of Income Tax and what was the corresponding total for 1919–20; what portion of such 1919–20 total represents unearned incomes which have increased by more than 50 per cent, during such period; and whether, in view of the serious position of national finances, he will consider the advisability of an immediate levy on the capital producing such increased unearned incomes?
The total taxable income, other than earned income, for the year 1913–14 was £589,000,000, and the corresponding figure for 1918–19 £818,800,000. These figures are composed as follows:
1913–14 1918–19. £ £ Income of individuals in United Kingdom 462,000,0000 593,800,0000 Income of companies, corporations, etc., not distributed as such to individuals and of non-residents 127,000,0000 225,000,000
The figure for 1919–20 is not yet available, nor is it possible to give the information asked for by the hon. and gallant Member in the second part of his question. As to the last part of the question, I must ask my hon. and gallant Friend to await the statement which I shall make on Wednesday.