§ Mr. MacGregorasked the Chancellor of the Exchequer what would be the revenue cost of raising the threshold for investment income surcharge to £4,000 and levying it at a rate of 10 per cent.
§ Mr. Robert SheldonI shall let the hon. Member have a reply as soon as possible.
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§ Mr. Paul Deanasked the Chancellor of the Exchequer what would be the loss of revenue if the threshold for the investment increase surcharge for those aged 65 years was raised to £4,500 with an equivalent increase in the threshold for those under 65 years of age.
§ Mr. Robert Sheldon, pursuant to his reply [Official Report, 20th April 1978; Vol. 948, c. 347], gave the following information:
After allowing for the changes proposed in the budget the estimated cost at 1978–79 income levels would be about £115 million.