§ Mr. Lewisasked the Chancellor of the Exchequer if he will publish in HANSARD a table of figures giving the total amount of Income Tax and Surtax received by the Treasury in each of the financial years from 1951 until 1958–59, respectively, for those in receipt of incomes above £2,000 per annum and the standard and Surtax rates of tax for each of these years; what his estimate of revenue from this source will be in the current financial year under his Budget proposals; and what the 18W amount would be in the current year if Income Tax and Surtax for the year 1959–60 were increased to its 1951 level.
§ Mr. SimonYes. The following are the figures:
A. YIELD AND STANDARD RATE OF TAX Financial year Estimated Income Tax and Surtax received by the Treasury from persons with incomes over £2,000 a year Standard rate of Income Tax £ million s. d. 1951–52 534 9 6 1952–53 543 9 6 1953–54 537 9 0 1954–55 576 9 0 1955–56 592 8 6 1956–57 634 8 6 1957–58 618 8 6 1958–59 642 8 6 1959–60— (i) at actual rates 622 7 9 (ii) at 1951–52 rates 797 9 6 NOTES:
1. The amounts of tax shown are based on Treasury receipts. A proportion of the amount shown for each year was levied on incomes of earlier years.
2. The figures shown for 1959–60 are provisional.
B. SURTAX RATES Slice of Income Rate of Surtax per £ of income £000 s. d. 2–2.5 2 0 2–5.3 2 6 3–4 3 6 4–5 4 6 5–6 5 6 6–8 6 6 8–10 7 6 10–12 8 6 12–15 9 6 Over 15 10 0 NOTE: The surtax rates remained as shown throughout the period 1951–52 to 1958–59. In computing the income subject to surtax for 1956–57 and subsequent years, the excess of certain personal allowances due to the taxpayer over the single personal allowance were deductible.