§ 44. Mr. Formanasked the Chancellor of the Exchequer whether he has any plans for the reform or simplification of the tax system, especially as it affects those who have to pay the higher rates of income tax.
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§ Mr. HealeyCertain measures to simplify the tax system are already being taken. Last year's Finance Act contains provisions, due to come into effect in 1979–80, which change the method of giving tax relief for life insurance premiums. The replacement of child tax allowances by child benefits will lisp make a contribution to simplification when the phasing out of the tax allowances is completed. These arrangements apply to all taxpayers, including those liable at the higher rates. As regards further measures, I am always prepared to consider suggestions for further reform or simplification, but the hon. Member will not expect me to anticipate my Budget Statement.