§ Dame Irene Wardasked the Chancellor of the Exchequer what would be the cost of an allowance of £250 to single persons and £400 for a married couple at the age of 65 years to all taxpayers, excepting Surtax payers.
§ Mr. Powell:The cost of such an allowance against Income Tax but not against Surtax would be about £37½ million in a full year, or £35 million more than the cost of exempting incomes not exceeding £250 (single) or £400 (married) for taxpayers over 65 as proposed in the Finance Bill.