§ Mr. Ridsdaleasked the Chancellor of the Exchequer what was the total amount taken in taxes from retirement pensioners in 1964 and 1969, respectively; and the total amount taken in taxes from retirement pensioners between 1960 and 1964 and between 1965 and 1969, respectively.
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§ Mr. Taverne:The estimated amounts of income tax and surtax paid by national insurance retirement pensioners for the years 1964–65 to 1967–68 are as follows:
£ million 1964–65 … … … 240 1965–66 … … … 311 1966–67 … … … 308 1967–68 … … … 329 Figures are not available for other years.
§ Mr. John Pageasked the Chancellor of the Exchequer what is his latest estimate of the cost to the Exchequer of making retirement pensions free of income tax.
§ Mr. Taverne:The cost of exempting National Insurance retirement pensions would be about £175 million for 1970–71.