HC Deb 15 July 1982 vol 27 cc461-2W
18. Mr. Jim Marshall

asked the Chancellor of the Exchequer what is the total annual cost at current prices of charges in taxation of the higher rate and higher rate thresholds of income tax, of the investment income surcharge, capital transfer tax and capital gains tax made since May 1979, including those changes contained within the Finance Bill 1982, apart from the cost of any adjustments to these taxes to maintain their real burden at the levels which obtained in 1978–79.

Mr. Bruce-Gardyne

£950 million in a full year. This cost is made up of £655 million income tax higher rates, £210 million investment income surcharge and £90 million capital gains tax, less a yield of £5 million from capital transfer tax.