§ Mr. Douglas Hendersonasked the Chancellor of the Exchequer how much
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£ million Financial Statement Revised Estimate for 1974–75 Estimate for a full year Estimate for 1974–75 Estimate for a full year Income Tax— Increase in married allowance by £90 and in single allowance by £30 -398 -489 -396 -483 Increase in child allowances by £40 -115 -165 -119 -169 Introduction of new higher rate band of £4,500 to £5,000 at 5p above basic rate +3 +12 +6 +12 Increase of basic and higher rates by 3p and of top rate by 8p +775 +942 +803 +963 Lowering of threshold of investment income surcharge to £1,000 with 10 per cent rate of surcharge between £1,000 and £2,000, with some relief for the elderly Negligible +40 Negligible +40 Increase in income limits for age exemption of £110 for single persons and £170 for married persons* -18 -30 -24 -39 Change of basis for taxing overseas income of United Kingdom residents Negligible +20 Negligible +20 Withdrawal of relief for certain interest payments +20 +100 +20 +100 Total Income Tax changes above +267 +430 +290 +444 * Shown in the Financial Statement as £85 for single persons and £130 for married persons. excise duty and VA1 he now expects to obtain in a full year on alcohol and tobacco consumption in Scotland and England, respectively, having regard to the different levels of expenditure and different patterns of consumption in the two countries.
§ Dr. GilbertI regret that separate estimates have not been made.