§ Dr. McDonaldasked the Chancellor of the Exchequer what are the 1977–78 estimated costs of: (a) single personal allowance, (b) married personal allowance, (c) children allowance, under 11 years of age, (d) children allowance, 11 to 16 years of age, (e) children allowance over 16 years of age, (f) additional personal allowance, (g) additional personal relief, (h) housekeeping allowance, and (i) age allowance, indicating wherever applicable the amount expected to be claimed at higher rates of taxation; and if he will publish these costs in the Official Report.
§ Mr. Robert Sheldon,pursuant to his reply [Official Report, 26th January 1977; Vol. 924, c. 643], circulated the following details:
The information available relates to 1976–77 and is as follows:
Cost £ million Cost in excess of relief at the basic rate Single personal allowance 2,480 28 Married personal allowance 4,780 190 Child allowance: Under 11 years 930 32 11–16 years 450 20 Over 16 years 130 13 Additional personal allowance 40 negligible Housekeeper allowance 1.5 negligible Age allowance 225 nil Figures for 1977–78 will depend on income levels and tax rates in that year.
§ Dr. McDonaldasked the Chancellor of the Exchequer what would be the saving to the Exchequer if the following reliefs were paid only at the standard rate for 1977–78: (a) mortgage interest relief, (b) bank loan interest, for house purchase and for other purposes, (c) superannuation and retirement pension, on employee contributions and on employer contributions, (d) relief for provision of medical 134W insurance claimed by firms, and (e) fees to professional bodies and work expenses; and if he will publish the figures in the Official Report.
§ Mr. Robert Sheldon,pursuant to his reply [Official Report, 26th January 1977; Vol. 924, c. 643], gave the following information:
The estimated saving if mortgage interest payments and allowable bank loan interest for house purchase were relieved only at the basic rate of tax is about £120 million for 1976–77. An estimate is not available for 1977–78. I regret that there is no information available with regard to the current cost of relief on the other items referred to.