§ Mr. Newtonasked the Chancellor of the Exchequer what loss of revenue would result from reducing to 60 per cent. the present 65, 70, 75 and 83 per cent. rates of income tax.
§ Mr. Robert SheldonAt 1975–76 income levels and tax allowances, about £160 million.
§ Mr. Newtonasked the Chancellor of the Exchequer what loss of revenue would result from reducing the present 83 per cent. rate of income tax to 75 per cent.
§ Mr. Robert SheldonAt 1975–76 income levels and tax allowances, about £30 million.
§ Mr. Georgeasked the Chancellor of the Exchequer how much revenue would be raised by increasing the standard rate of income tax by one penny.
§ Mr. Robert SheldonAbout £365 million at 1975–76 income levels.
§ Mr. Newtonasked the Chancellor of the Exchequer how many income tax payers are aged over 65 years; and what is estimated to be the total income tax paid by such taxpayers in each of the last five years for which figures are available.
§ Mr. Robert SheldonI regret that the information requested can only be supplied for 1972–73 and 1973–74, the latest years for which the Surveys of Personal 83W Incomes are available. For these years, the information is as follows:
INCOME TAX PAYERS AGED 65 AND OVER Number of taxpayers Tax paid '000 £ m. 1972–73 … … 1,890 740 1973–74 … … 1,870 770 Husband and wife are counted as one and are included if at least one of them is aged 65 or over. The 1972–73 tax figure includes surtax.
§ Mr. Newtonasked the Chancellor of the Exchequer how many income tax payers are single women aged between 60 years and 65 years; and what is estimated to be the total income tax paid by such taxpayers in each of the last five years for which figures are available.
§ Mr. Robert SheldonI regret that this information is not available.