§ Mr. Nabarroasked the Chancellor of the Exchequer what steps he proposes to take to investigate the effects upon the nation's export trade of the present rates of Surtax on earned incomes; and what advice he has received from representative industrial organisations in this connection.
§ Mr. Selwyn Lloyd:A number of representative bodies have written to me putting forward the view that a reduction of Surtax would encourage harder work in promoting exports and in business generally. I shall give careful consideration to this matter, along with many other suggestions for changes in the taxation system, before the Budget.
§ Mr. Nabarroasked the Chancellor of the Exchequer how many persons are assessed for Surtax in the current year 1960–61; what is his revised estimate of the aggregate yield taking into account all movements in money incomes in the current year; and how many of the total persons assessed for Surtax are so assessed in respect of unearned incomes.
§ Sir E. Boyle:It is not yet known how many taxpayers will be assessed to Surtax in 1960–61; the Budget estimate 135W of the yield of Surtax in 1960–61 is £190 million, and it is not the practice to revise Budget Estimates during the course of the current year; as regards the last part of the Question, the latest available information is contained in Table 77 of the 103rd Report of the Commissioners of Inland Revenue.