Income Tax and Surtax

HC Deb 13 May 1970 vol 801 cc289-90W

62. Mr. Speed

asked the Chancellor of the Exchequer what allowance he made for the buoyancy of the revenue when he estimated that the yield of income tax and surtax would rise by 18 per cent. between 1969–70 and 1970–71 before Budget changes.

Mr. Taverne:

The estimates are based on a forecast of money incomes consistent with the forecasts in Table 4 of the Financial Statement and Budget Report 1970–71.

68. Mr. Holland

asked the Chancellor of the Exchequer if he will show the yield of income tax and surtax at each income level given in Table 62–5 of the Inland Revenue Statistics 1970, and compare it with the yield with the rates and allowances applicable in 1964–65 and 1967–68.

Mr. Taverne:

No, it is not customary to publish forecasts of incomes.

69. Mr. Holland

asked the Chancellor of the Exchequer if he will publish a table, of the sort needed by his Department to estimate the effect of tax changes on Exchequer revenue based on Tables 62–5 of the Inland Revenue Statistics 1970, showing the aggregate level of personal income in total and by type of income, by each slice of income in the effective graduations of the income tax and surtax scales.

Mr. Taverne:

No.