§ Mr. Bruce-Gardyneasked the Chancellor of the Exchequer what estimate he has made of the effect of the 10 per cent. increase in Surtax on executives, scientists, and designers.
§ Mr. MacDermotNo estimate has been made; but those people will continue to benefit from the special Surtax reliefs for earned income.
§ Mr. John Smithasked the Prime Minister how much purchasing power he estimates will be removed from the economy in the next six months by the 10 per cent. surcharge on surtax.
§ Mr. DiamondAs announced by my right hon. Friend the Prime Minister on 20th July, the surcharge will be payable on 1st September, 1967. It is impossible to estimate the effect of this announcement on purchasing power in the next six months.