§ Dame Irene Wardasked the Chancellor of the Exchequer what progress he has made in his comprehensive review of taxation with a view to bringing it into line with the recommendations of the Royal Commission on Taxation.
§ Mr. P. ThorneycroftA considerable number of provisions based on the Royal Commission's recommendations have been included in recent Finance Acts and in the Finance Bill now before Parliament. Among them are the provisions of the Finance Bill relating to overseas trade corporations; the provisions of the Finance Act, 1956, regarding retirement annuities for the self-employed and others; and the improvements which have been made in the personal allowances in the last three years in order to relieve the smallest incomes from tax, to give better reliefs to the family, and to extend the range of the earned income relief. I propose to consider other recommendations of the Royal Commission in the coming year.