HC Deb 19 April 1973 vol 855 cc158-9W
Mr. Meacher

asked the Chancellor of the Exchequer, of the £300 million cost to the Exchequer arising from the introduction of the unified tax system, how much derives from the investment surcharge concession and how much from the winding-up of the allowance under the new system; and how the benefit from each of these two sources is divided, respectively, between those with incomes of less than £1,000, £1,000 to £2,000, £2,000 to £3,000, £3,000 to £4,000, £4,000 to £5,000, £5,000 to £7,500, £7,500 to £10,000, and over £10,000 a year.

Mr. Nott

It is not possible to say how much of the cost of the unified system is attributable to the variation in the treatment of investment income or how much to the rounding-up of the allowances without making artificial assumptions about what element of a mixed income constitutes the top slice.