§ Mr. Meacherasked the Chancellor of the Exchequer what was the loss of revenue due to children's allowances for income tax and surtax in the financial 159W year 1972–73; and what is the estimate of the corresponding figure for 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 income tax child allowances is about £930 million and £915 million respectively for 1972–73 and 1973–74.