§ Mr. Pardoeasked the Chancellor of the Exchequer if he will estimate for the current tax year and for 1975–76 the revenue forgone by the investment income surcharge beginning at £1,500 for those people aged over 65 years instead of £1,000, and the percentage of this which is at higher rates of tax.
§ Mr. Robert SheldonThe estimate for 1975–76 is about £14 million and for 1976–77 about £16 million. This assumes that such income would be liable to the investment income surcharge at a rate of 10 per cent.