§ 63. Mr. Nabarroasked the Chancellor of the Exchequer what he estimates to be the cost in the year 1960–61 of earned income allowance at two-ninths up to £4,000 of income annually, and thence one-ninth up to £10,000 of income annually, as provided in the Finance Act, 1957; and what would be the cost in a full year of altering this allowance to provide two-ninths up to £10,000 of income annually, and thence one-ninth up to £15,000 of income annually.
§ Sir E. Boyle:The cost of the two-ninths earned income relief up to £4,005 earnings and one-ninth thereafter up to £9,945 is over £1,000 million. The alteration suggested would cost about £5 million.