§ Mr. Trotterasked the Chancellor of the Exchequer what is the estimated additional revenue which would be raised in the current year if a tax rate of 100 per cent. were applied to all incomes in excess of (a) £13,000 and (b) £20,000.
§ Dr. GilbertI assume that the hon. Gentleman means an arrangement in which gross income above the limits indicated is taxed at a rate of 100 per cent., and income up to those points is taxed under the system and rates proposed for 1974–75. On this basis the estimated additional yields would be (a) about £60 million and (b) about £15 million. This is on the assumption that the amounts of gross incomes remained unaltered from those obtaining in 1974–75.
§ Mr. Trotterasked the Chancellor of the Exchequer if he will list the countries in which the maximum personal tax rate is higher than the rate of 98 per cent. proposed in the Finance Bill.
§ Dr. GilbertAlgeria.