Income Tax (Yield)

HC Deb 01 March 1955 vol 537 c239W

26. Mr. McKay

asked the Chancellor of the Exchequer the estimated revenue from 6d. on the Income Tax on all kinds of income; and what it is on the standard Income Tax only.

Mr. R. A. Butler

On the basis of the probable yield of Income Tax for the current year,1954–55, the estimated revenue from 6d. on the standard rate and on each of the reduced rates is £144 million, of which the standard rate accounts for £74 million.