§ Mr. Sheldonasked the Chancellor of of the Exchequer, what estimate he has made of loss of revenue if the first £200, £250, £300 and £400 of taxable income were to be charged at 25 per cent.; and what proportion of this loss would be attributed to those with incomes of less than £2,000.
§ Mr. Nottpursuant to his reply, OFFICIAL REPORT 29th January, Vol. 849, c. 315, provided the following information:
On the assumption that the reduced rate band also applied to wife's earnings
Estimated Revenue if rates: Band of taxable income £ per annum Estimated Revenue £ million increased by 5 points increased by 10 points decreased by 5 points 3,000–3,500 … … … … 80 93 107 67 3,500–1,000 … … … … 62 72 82 52 4,000–4,500 … … … … 50 58 67 42 4,500–5,000 … … … … 40 47 53 33 Note; Figures are given to the nearest £ million but should not be regarded as accurate at that level.