§ 56. Mr. William Hamiltonasked the Chancellor of the Exchequer what would 55W be the gross investment income required by a single man with no other allowances to produce a net income after deduction of income tax and surtax of £100,000, £200,000, and £300,000, respectively ; and what would be the comparable figures if the income were earned.
§ Mr. Patrick JenkinFor a taxpayer entitled to no personal allowances except that for a single man, and not entitled to any deductions or reliefs for expenditure of any kind, the amounts, assuming that the rates of surtax for 1971–72 are the same as for 1970–71, are approximately £850,000, £1,740,000, and £2,630,000 for investment income, and £390,000, £800,000 and £1,200,000 for income wholly earned.