§ Mr. A. Lewis
asked the Chancellor of the Exchequer whether he will state the total amount he received from Surtax in the financial year 1951–52 for those in the income bracket above £20,000 per annum; what was the rate of Surtax at that time; if he will give similar details for the financial year 1963–64; and by how much the revenue would have increased in the latter year if the Surtax level had remained the same as that in operation in 1951–52.
§ Mr. Green
It is estimated that the Surtax chargeable in 1951–52 on incomes exceeding £20,000 in 1950–51 totalled £32 million and that chargeable in 1963–64 on the same level of incomes in 1962–63 will total £61 million. The rate of Surtax charged in 1951–52 on the slice of income over £20,000 was 10s. 6d. in the £ and in 1963–64, 10s. The average rate of Surtax borne by incomes over £20,000 was nearly 43 per cent. in 1951–52 and about 38 per cent. in 1963–64. If all incomes over £20,000 chargeable in 1963–64 were taxed as they would have been in 1951–52, the extra Surtax would have been about £7 million.