§ Mr. Maudlingasked the Chancellor of the Exchequer what he estimates would be the cost to the Revenue of limiting the maximum rate of Surtax to 6s. 6d. for earned income and for total incomes respectively.
§ Mr. CallaghanIf in cases of mixed incomes the earned income was treated as the bottom slice of total income, the Answer to the first part of the Question is about £4 million for a full year. The Answer to the second part of the Question is about £30 million for a full year. Both costs are on the assumption that the lower Surtax rates and the bands of income to which they apply would be unchanged.