HC Deb 04 July 1974 vol 876 c235W
Mr. John Garrett

asked the Chancellor of the Exchequer what would be the cost to the Exchequer of abolishing all child allowances for income tax and increasing the tax threshold for all married couples, with or without children, to £2,500 before allowances for mortgages and life insurance.

Dr. Gilbert

The estimated cost of abolishing the child tax allowances at the rates proposed for 1974–75 and increasing the married allowance to £2,500 for all married couples with or without children is about £4,400 million.