§ 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 interest on national savings certificates, save-as-you-earn schemes and the first £40 of savings bank interest, and the percentage of this which is at higher rates of tax.
§ Mr. Robert SheldonInformation on which to base a precise calculation is not avaliable but approximate estimates for 1975–76 are as follows:
£ million Interest on national savings certificates 55 First £40 of savings bank interest 35 Interest/bonus on Save-as-you-earn schemes 1 The figures for the current year would be of about the same order. No information is avaliable as to the percentage at higher rates of tax.