§ Mr. Newtonasked the Chancellor of the Exchequer in respect of the proposals in Clause 31 of the present Finance Bill what estimates he has made of the number of couples expected to marry in the tax year 1976–77; how many of these are expected to pay additional tax, and how many to pay less tax; and what estimate he has made of the loss of revenue from investment income surcharge.
§ Mr. Robert Sheldon, pursuant to his reply [Official Report, 7th June 1976; 667W Vol. 912, c. 555], gave the following information:
The number of marriages in the tax year 1976–77 is assumed to be about 450,000. About 75 per cent. of these couples are expected to pay more tax and only a negligible proportion less tax as a result of the proposals in Clause 31 of the Finance Bill. The estimated loss of revenue from investment income surcharge is negligible.