Captain CROOKSHANKasked the Chancellor of the Exchequer what would be the loss to the revenue if Income Tax was remitted on all incomes below £300 a year; and if he can give any estimate of what would be the reduction in the cost of the Inland Revenue Department if such a concession was made?
§ Mr. CHURCHILLNo precise data are available, but it is estimated that, if all persons with total incomes below £300 per annum were exempted from Income Tax (incomes over that figure remaining chargeable as at present), the loss of revenue in a full year would be somewhat less than £3,000,000. The consequent reduction in the cost of the Inland Revenue Department would be only a small fraction of this sum.