§ Lord BOYD-CARPENTERasked Her Majesty's Government:
What, calculated to the most recent convenient date, would be the annual amount of revenue lost as the result of a provision that no part of an individual's investment income should be taxed at a rate exceeding 80 per cent.; and what proportion this figure would represent of the total yield of direct personal taxation.
§ The PARLIAMENTARY UNDERSECRETARY of STATE, DEPARTMENT of the ENVIRONMENT (Baroness Birk)An exact estimate cannot be made from the information available, but the loss would be in the range £30–80 million at 1977–78 income levels, representing between 0.2 and 0.5 per cent. of the estimated yield of income tax in the current year.