§ Major STEELasked the Chancellor of the Exchequer whether his attention has been called to the severity of the proposed scale of graduation of Income Tax in the Finance Bill on those whose income is between £600 and £2,000 a year; and whether it is a fact that the proposed rate of tax per pound does not increase progressively with income between these two figures?
Mr. CHAMBERLAINMy hon. and gallant Friend is mistaken. Taxpayers2090W*** till 1922 is at par of exchange approximately £43,000,000 per annum. The interest due to the United Kingdom by foreign governments, which is being similarly postponed, amounts to approximately £85,000,000.