§ Mr. H. Fraserasked the Chancellor of the Exchequer what the cost to the revenue would be of raising the profits tax exemption limit from £2,000 to £5,000 and £10,000, respectively, and secondly raising the abatement to one-third of the difference between £5,000 and £20,000 and between £10,000 and £25,000, respectively.
§ Mr. Simon£3½ million, £14 million, £7½ million and £4½ million, respectively, in a full year. The last cost would be £9 million if the abatement for profit between £10,000 and £25,000 were equal to two-thirds of the difference between £25,000 and the profit, thus fitting the abatement to the suggested exemption limit of £10,000.