Tax Changes (Hansard, 5 April 1971)

§ Mr. Kaufman

asked the Chancellor of the Exchequer (1) how many taxpayers are expected to benefit from the proposed improvements in child allowances; how many of these are in the City of Manchester; and how much, in cash terms, of the £207 million cost of this concession in a full year will accrue to taxpayers in the City of Manchester;

(2) how many estates will benefit from the proposed change in estate duty; how many of these are expected to be in the City of Manchester; and how much, in cash terms, of the £20 million cost of this concession in a full year is expected to accrue to estates in the City of Manchester;

(3) how many taxpayers are expected to benefit from the proposed relief for higher earned incomes; how many of these are in the City of Manchester; and how much, in cash terms, of the £38 million cost of this concession in a full year will accrue to taxpayers in the City of Manchester;

(4) how many children in the year 1972–73 are expected to benefit from his proposed repeal of legislation under which the investment income of young children generally is taxed as if it were the income of their parents; how many of these children will be in the City of Manchester; what will be the cost to the Exchequer of this proposal; and what part of this cost, in cash terms, will accrue to beneficiaries in the City of Manchester;

(5) how many of those paying capital gains tax will benefit from the proposed changes in this tax; how many of these are in the City of Manchester; and how much, in cash terms, of the £15 million cost of this concession in a full year will accrue to beneficiaries in the City of Manchester.

42W

tainties in the employment figures, the estimates have been rounded to the nearest £50 in each case.

	Number of Taxpayers
Improvement in child allowances	6,750,000
Increase in exemption limit for estate duty.	40,000
Increase in earned income relief for earned incomes over £4,005	415,000
Investment income of young children.	Not available