§ Mr. Barnettasked the Chancellor of the Exchequer what estimate he has made of the additional staff required to deal with the new unified tax system in 1973–74 and subsequent years.
§ Mr. Patrick JenkinThe new unified tax will require about 250 additional staff in 1973–74, the year of its introduction. In subsequent years it will lead progressively to an ultimate net saving of about 1,200.
§ Mr. Barnettasked the Chancellor of the Exchequer what arrangements he has 246W made with building societies consequent upon the tax changes proposed in 1973–74; and if he will make a statement.
§ Mr. Patrick JenkinIt would be premature to attempt to conclude at this stage revised arrangements appropriate to the proposed unified tax structure. I do not envisage, however, that the changes proposed will materially affect the form of previous arrangements.
§ Mr. Barnettasked the Chancellor of the Exchequer what estimates he has made of the different methods by which the equivalent revenue in 1973–74 at 1971–72 prices would be raised under the proposed unified tax system, assuming various levels of exemption for investment income as envisaged under Clause 22(1)(b) of the Finance Bill.
§ Mr. Patrick JenkinThe starting point and rate for investment income surcharge will, as my right hon. Friend stated in his Budget speech, be fixed in the 1973 Budget. I cannot discuss possible schemes or their yields at this stage.