§ Mr. Alisonasked the Chancellor of the Exchequer what is the estimated cost to the revenue of abolishing rates of Surtax above 15s. and 12s. 6d., respectively, on both earned and investment income.
§ Mr. Harold LeverI assume that the hon. Member has in mind limiting the top rate of Surtax to 6s. 9d. or 4s. 3d., making a rate of 15s. or 12s. 6d. when added to the standard rate of Income Tax of 8s. 3d. in the £. To do this, leaving other tax rates unaltered, would cost about £30 million or £80 million, respectively.