§ Mr. David Steelasked the Chancellor of the Exchequer if he will publish in the OFFICIAL REPORT the gains accruing to surtax payers from the 2½p cut in the standard rate of income tax from the date the cut became effective until 31st March 1973.
§ Mr. NottThe cut in the standard rate of 2½p in the year 1971–72 attributable to surtax payers amounted to £40 million. This reduction led to surtax payers paying £60 million less in 1972–73 than had the 1971 cut not taken place.