HC Deb 12 May 1914 vol 62 c934W
Mr. NEWTON

asked the Chancellor of the Exchequer what would be the yield in a full year of an Income Tax at the uniform rate of 1s. in the £?

Mr. LLOYD GEORGE

The yield on a full year would be about £41,000,000. The calculation has been made on the basis of the estimate of the net produce of the assessments to be made in the year 1914–15 on the assumption that the uniform rate throughout is 1s. in the £, and that the various changes proposed with respect to foreign income, relief for children and allowance for repairs will be in operation.