§ Mr. Meacherasked the Chancellor of the Exchequer what he estimates will be the yield of the investment income surcharge in 1973–74; what has been the yield of income tax on investment income for each of the 10 previous years; and what percentage each of these figures represents of total national income for each of these years.
§ Mr. NottThe surcharge on 1973–74 investment incomes will in most cases be payable in 1974–75; it is impossible to estimate the amount which will be paid in 1973–74 but it is likely to be small. There is no satisfactory basis for allocating the yield of income tax between different types of incomes.