§ Mr. Sillarsasked the Chancellor of the Exchequer, taking as a basis the valuation of estates for estate duty at the latest available date, what is the estimated revenue from a tax on private wealth which exempted the first £10,000, applied at 1 per cent. between £10,000 and £20,000 and progressed at an additional 1 per cent. for each successive £10,000 to a maximum 10 per cent. on wealth in excess of £100,000; and how many people he estimates would be liable for such a tax.
§ Mr. Denzil DaviesOn the basis of the estimate for 1974 of the wealth of individuals in the United Kingdom, as identified from estate duty statistics, the yield would be about £2,300 million and 4,380,000 individuals would be liable.
§ Mr. Sillarsasked the Chancellor of the Exchequer, taking as a basis the valuation of rates for estate duty at the latest available date, what is the estimated revenue from a tax on private wealth which exempted the first £30,000, applied at 1 per cent. between £30,000 and £40,000 and progressed at an additional 1 per cent. for each successive £10,000 to a maximum of 10 per cent. on wealth in excess of £120,000; and how many people he estimates would be liable for such a tax.
§ Mr. Denzil DaviesOn the basis of the estimate for 1974 of the wealth of individuals in the United Kingdom, as identified from estate duty statistics, the yield would be about £1,500 million and 725,000 individuals would be liable.