HC Deb 20 March 1967 vol 743 cc208-11W
Mr. Whitaker

asked the Chancellor of the Exchequer whether he will state in the OFFICIAL REPORT the approximate amounts of Income Tax including Surtax forgone, where applicable in each of the last five years, in respect of all persons with incomes above and below £2,000, respectively, on account of age allowance, age exemption allowance, wife's earned income allowance, child allowance, housekeeper allowance, dependent relative allowance, life assurance relief, covenants in favour of individuals, National Insurance contributions, other

£ million
1962–3 1963–4 1964–5 1965–6 1966–7
Age relief (including marginal age relief):
Incomes under £2,000 8 9 7 5 4
Income not under £2,000 — — — — —
Total cost 8 9 7 5 4
Age exemption (including marginal age exemption):
Incomes under £2,000 5 4 10 13 13
Incomes not under £2,000 — — — — —
Total cost 5 4 10 13 13
Wife's earned income allowance:
Total income under £2,000 164 165 173 191 194
Total income not under £2,000 33 34 35 41 44
Total cost 197 199 208 232 238
Child allowance:
Incomes under £2,000 337 375 412 470 544
Incomes not under £2,000 23 25 28 30 36
Total cost 360 400 440 500 580
Housekeeper allowance:
Incomes under £2,000 4 5 5 5 6
Income not under £2,000 negligible negligible negligible negligible negligible
Total cost 4 5 5 5 6
Dependent relative allowance:
Incomes under £2,000 26 27 30 34 34
Incomes not under £2,000 negligible negligible negligible negligible negligible
Total cost 26 27 30 34 34
Life assurance relief:
Incomes under £2,000 48 50 51 52 53
Incomes not under £2,000 13 14 15 16 17
Total cost 61 64 66 68 70
Covenants in favour of individuals:
Incomes under £2,000 ½ ½ ½ ½ ½
Incomes not under £2,000 15½ 16½ 17½ 18½ 17½
Total cost 16 17 18 19 18
Personal National Insurance contributions:
Incomes under £2,000 98 126 135 — —
Incomes not under £2,000 3 4 5 — —
Total cost 101 130 140 — —
Superannuation and pension contributions:
Incomes under £2,000 54 54 59 62 65
Incomes not under £2,000 15 16 16 17 18
Total cost 69 70 75 79 83
Information is not available about compensation for loss of office.

superannuation and pension contributions, and compensation for loss of office.

Mr. MacDermot

Broad estimates of the costs for the five years ending with the year 1966–67 are given in the table below:

Mr. Whitaker

asked the Chancellor of the Exchequer how much Income Tax and Surtax, respectively, he estimates was forgone in each of the last five years by reason of the exemption from tax of interest on National Savings Certificates, and of the exemption from tax of the first £15 per head of savings bank interest, respectively.

Mr. MacDermot

A reliable estimate of the cost of the exemption of interest on National Savings Certificates cannot be given.

The estimated cost of the exemption from Income Tax of the first £15 of interest from ordinary deposits in the Post Office Savings Bank and the Trustee Savings Banks for the five years ending with the year 1966–67 is as follows:

£ million
1962–63 13
1963–64 16
1964–65 19
1965–66 22
1966–67 23