§ Sir Brandon Rhys Williams
asked the Chancellor of the Exchequer what would be the net saving in 1983–84 of abolishing the married man's tax allowance for those below pension age and introducing a partially transferable tax allowance equal to 56 per cent. of the single person's allowance; and if he will state the assumptions on which this saving has been calculated including the assumption underlying the treatment of investment income between husband and wife.
§ Mr. Ridley
[pursuant to his reply, 30 June 1983, c. 126]: The net tax yield in a full year, at 1983–84 levels of income and allowances would be approximately £1,250 million. This assumes that there would be independent taxation of all the income including investment income, of husbands and wives below pension age.