§ Mr. William Hamiltonasked the Chancellor of the Exchequer what is the estimated total tax reduction of all those in receipt of a gross annual income of £4,000 and above, as a result of his recently announced tax reduction.
§ Mr. Patrick JenkinAbout £84 million out of a total of £350 million.
§ Mr. William Hamiltonasked the Chancellor of the Exchequer what is the estimated reduction in the total amount of surtax collected, as a result of recently announced tax changes.
§ Mr. Patrick JenkinMy right hon. Friend's announcement had no effect upon either the 1969–70 surtax which is payable on 1st January, 1971 or the 1970–71 surtax for which the rates will be announced in the Budget.
§ Mr. William Hamiltonasked the Chancellor of the Exchequer how many wage earners are currently earning less than £25 per week; and what is the estimated taotal tax benefit likely to accrue to them consequent on a reduction of 6d. in the standard rate of income tax.
§ Mr. Patrick JenkinSeparate figures for wage earners are not available; but I estimate that about £64 million of the full year cost of £350 million is attributable to people with incomes below £1,300 a year.