§ Mr. Lipsonasked the Chancellor of the Exchequer how many Income Tax payers are entitled to post-war credits; how many have already been notified of the amounts of their credits to date; what is the total value of all post-war credits; between what maxima and minima do they range; and what is the average amount of the credits?
§ Sir K. WoodIt is estimated that the number of taxpayers who are entitled to a post-war credit for the year 1941–42 is about 10,500,000 of whom 95 per cent. have already been notified of the amounts due to them. The aggregate amount of the tax credits for 1941–42 will be about £125,000,000. A taxpayer's post-war credit for the year 1941–42 may be any sum up to £65 according to his circumstances and the amount of his income. The hon. Member will find details of the particular amounts appropriate to the various classes of taxpayers and to selected incomes in the Tables printed in the "Financial Statement" for 1941–42 (H.C. 73). Figures for the current year are not yet available but the numbers of taxpayers and the aggregate credits will be greater than for the year 1941–42.