48. Major Lloyd
asked the Financial Secretary to the Treasury the value of £2,000 in terms of the value prevailing when this figure was chosen for the level of income at which Surtax begins.
§ Mr. Boyd-Carpenter
Surtax, then called Super-tax, was charged at £2,000 for 1920–21 for the first time. It is estimated that in March, 1952, £3,000 had approximately the same value in terms of purchasing power as £2,000 had in 1920–21.
§ Mr. Osborne
asked the Chancellor of the Exchequer the internal purchasing power of the pound sterling to the nearest convenient date, as compared with 20s. in July, 1945.