HC Deb 27 April 1978 vol 948 cc672-3W
Mr. MacGregor

asked 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 Sheldon

I shall let the hon. Member have a reply as soon as possible.

Mr. Paul Dean

asked 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.