§ 67. Mr. John Hallasked the Chancellor of the Exchequer what would be the estimated loss of revenue in a full financial year if the level at which Surtax is imposed was raised from £2,000 to £3.000, £3,500 and £4,000, respectively.
§ Mr. H. MacmillanThe cost in a full year of raising the starting point to £3,000, £3,500 or £4,000 would be £27 million, £40 million or £50 million respectively if the income above the new starting points continued to bear the same rates of tax as at present. If the current rates above £2,000 were applied to the corresponding slices above the new limit the cost would be £46 million, £61 million or £73 million, respectively.