HC Deb 08 December 1958 vol 597 cc13-4W
Mr. Arbuthnot

asked the Chancellor of the Exchequer what would be the cost of confining the incidence of Surtax to taxable income as computed for Income Tax purposes.

Mr. Simon

About £40 million.

Mr. Arbuthnot

asked the Chancellor of the Exchequer what would be the cost of raising from £2,000 to £3,000 the starting point of Surtax.

Mr. Simon

To move all the rates of Surtax up the income scale by £1,000 would cost £45 million a year.

Mr. Arbuthnot

asked the Chancellor of the Exchequer what would be the cost of putting an overall ceiling of 15s. on the combined level of Income Tax and Surtax on any part of a taxpayer's income.

Mr. Simon

I am not clear what my hon. Friend has in mind; but if it is to retain the present Surtax scale on incomes up to £6,000 when the rate now reaches 6s. 6d. in the pound and to charge all incomes in excess of that amount at 6s. 6d., so that the maximum combined rate of Income Tax and Surtax was 15s. in the pound, this would cost about £17 million a year.