§ Mr. Woodburnasked the Chancellor of the Exchequer what additional Exchequer revenue would result if Income and Surtaxes were increased to leave a maximum net income of £2,000 and £1,000, respectively.
§ Mr. Boyd-CarpenterIn theory, about £75 million and £400 million, respectively, at present levels of taxation and income. The disincentive effects of taxation at such rates, however, would very much reduce both these yields and those of other taxes if the change were actually made.