Investment Income Surcharge

HC Deb 22 June 1971 vol 819 cc244-5W

47. Mr. Cormack

asked the Chancellor of the Exchequer what estimate he has made of the yield of an investment income surcharge at a rate of 10 per cent. on all investment income in excess of £2,000 per annum, at a rate of 10 per cent. on the slice of investment income between £2,000 and £5,000 per annum, with a rate of 15 per cent. applying to investment income in excess of £5,000 per annum, at a rate of 10 per cent. on all investment income in excess of £1,500 per annum, and at a rate of 10 per cent. on all investment income in excess of £2,500 per annum, respectively.

Mr. Patrick Jenkin

The figures, for 1971–72, are about £75 million, £90 million, £90 million and £65 million, respectively.