Income Tax (Yield)

HC Deb 26 October 1944 vol 404 c369W

Sir W. Smithers

asked the Chancellor of the Exchequer the product of a penny in the £ on Income Tax for 1943–44, and the estimated figure for 1944–45.

Sir J. Anderson

On the basis of the existing graduation the product of a penny in the £ on the standard rate of Income Tax for 1943–44 was approximately £10,000,000. For 1944–45 it is estimated to be £11,000,000.