§ Mr. Terry Davisasked the Chancellor of the Exchequer if he will update, for the latest year for which information is available, the estimate contained in Table 18 of the background paper No. 2 to Cmnd. 8093 on the distributional effects of a change to mandatory independent taxation, January 1981, of the cost to the Exchequer of taxation of a wife's investment income as her income under independent taxation with nontransferable resources; if he will sub-divide this estimate between pensioner and non-pensioner couples, showing in each case the cost resulting from this tax no longer being collected at (a) the basic rate and (b) higher rates; and if he will further estimate the additional cost to the exchequer which would arise if married pensioner couples and married non-pensioner couples reorganised their asset holdings by the amount necessary to secure the maximum income tax reduction following such a change.
§ Mr. Moore[pursuant to his reply, 27 July 1984]: I regret that it would not be possible to provide the estimates requested without disproportionate cost.