§ Mr. Meacherasked the Chancellor of the Exchequer what was the loss of revenue due to age exemption in the financial year 1972–73; and how much it is expected to be in the financial year 1973–74.
§ Mr. Nott,pursuant to his reply [OFFICIAL REPORT, 20th March 1973, Vol. 853, c. 60], provided the following information:
It is estimated that the reduction in tax liabilities by reason of age exemption is about £11 million and £20 million respectively for 1972–73 and 1973–74.