§ Mr. Paul Deanasked the Chancellor of the Exchequer what would be the loss of revenue if the investment increase surcharge was abolished.
§ Mr. Robert Sheldon, pursuant to his reply [Official Report, 20th April 1978; Vol. 948, c. 347], gave the following information:
Allowing for the proposals in the Budget Statement, the estimated loss would be about £320 million at 1978–79 income levels.
§ Mr. Paul Deanasked the Chancellor of the Exchequer what would be the loss of revenue if the higher threshold for investment income surcharge operated from age 60 instead of age 65 years.
§ Mr. Robert Sheldon, pursuant to his reply [Official Report, 20th April 1978; Vol. 948, c. 347], gave the following answer:
I regret that this cannot be estimated, as the available information does not distinguish taxpayer; above and below 60 years of age.