§ Mr. Hordern
asked the Chancellor of the Exchequer what would be the cost to the Revenue of allowing the following amounts of investment income to be received free of tax: £100, £200, £250, £300, and £400.
§ Mr. Robert Sheldon
On the basis of the estimated distribution of income for 1977–78 the costs would be of the following order of magnitude:
Investment Income exempted Estimated Cost £ £m. 100 160 200 255 250 305 300 350 400 425
The costs assume that the investment income surcharge continues to apply to investment in come in excess of £1,500 (£2,000 in the case of elderly taxpayers).