§ Mr. Pardoeasked the Chancellor of the Exchequer if he will estimate for the current tax year and for 1975–76 the revenue forgone by the exemption of the first £5,000 given as a severance payment, and the percentage of this which is at higher rates of tax.
§ Mr. Robert SheldonI regret that this information is not available. Severance payments are assessable under Schedule E and the statistics relating to Schedule E assessments do not distinguish them from other Schedule E income.