§ Mr. Gouldasked the Chancellor of the Exchequer what would be the gain to the Exchequer of abolishing all income tax allowances, apart from the personal married man's and dependent children's allowances.
§ Mr. Robert Sheldon, pursuant to his reply [Official Report, 28th October 1975; Vol. 898, c. 431], gave the following information:
154WThe full year yield from the abolition of the wife's earned income allowance, the age allowance and the housekeeper, daughter's services, dependent relative, blind person's and additional personal allowances is estimated to be £1,370 million at 1975–76 income levels. If the wife's earned income allowance and the age allowance are excluded, then the full year yield is estimated to be £70 million.