Income Tax (Hansard, 21 July 1975)

HC Deb 21 July 1975 vol 896 c34W 34W

§ Mr. Hordern
asked the Chancellor of the Exchequer what would be the loss to the revenue if the top rate of tax on earned income were 50 per cent.

§ Mr. Denzil Davies
On the arbitrary assmption that earned income forms the lower slice of any taxed income and that investment income continues to be taxed at the rates proposed for 1975–76, the loss of revenue would be about £200 million.