Investments (Cost of Tax Exemption)

HC Deb 13 April 1965 vol 710 c163W

Mr. Jopling

asked the Chancellor of the Exchequer what would be the cost of exempting from all tax liability the first £50 of interest on investments.

Mr. MacDermot

To exempt the first £50 of taxable income from investments of individuals would cost about £90 million in a full year.