§ Mr. Dickensasked the Chancellor of the Exchequer what is his estimate of the net cost to public funds in 1968–69, assuming the abolition of tax allowances for children and the payment of a tax-free family allowance of 30s. a week per child, including the first born.
§ Mr. Harold LeverAbout £320 million, if introduced in the 1968 Budget. There could be some savings on other social security benefits depending on what adjustments were made.
§ Mr. Dickensasked the Chancellor of the Exchequer what estimate he has made of the break-even point for the 153W standard rate taxpayer with one, two, three or four children, respectively as a result of abolishing child tax allowances and of paying family allowances at a rate of 30s. per week, tax free, to all children, including the first-born.
§ Mr. Harold LeverVirtually all parents liable at no more than the standard rate would be better off.