§ Mr. Wrigglesworthasked the Chancellor of the Exchequer how much revenue would be raised by the reintroduction of the 1968 provisions for the aggregation of children's investment income with that of their parents.
§ Mr. Robert Sheldon,pursuant to his reply [Official Report, 27th June 1975; Vol. 894, c. 258], circulated the following information:
The precise yield will depend on the level of the exemption for modest amounts of income mentioned by my right hon. Friend the Paymaster-General in his speech during the Budget debtes on 13th November.—[Vol. 881, c. 538.] The yield without such an exemption could be about £15 million in a full year at the rates of tax proposed for 1975–76.