§ Sir B. Rhys Williamsasked the Chancellor of the Exchequer if he will give an estimate of the loss of revenue involved to the Exchequer in 1970–71 of reducing surtax upon earned income in such a way that no one would be required to pay more than 10s. in the £ upon his marginal earnings, and the further loss through extending the same concession to unearned income.
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§ Mr. Taverne:No. Unclaimed funds on banking accounts with the Bank of England, the amount of which is extremely small, are a liability of the Bank. Amounts equal to unclaimed moneys due on Government stocks managed by the Bank are already paid to the National Debt Commissioners in accordance with S(5) of the Miscellaneous Financial Provisions Act, 1955. I see no need for further legislation.