§ Mr. Dobsonasked the Chancellor of the Exchequer what is the best estimate of the loss of revenue under a scheme of mandatory independent taxation due to the reduction in the tax due from investment income of married couples if (a) no transfers of capital between spouses were made and (b) optimum transfers were made by all married couples to minimise tax liability; and what (i) increase in investment income surcharge or (ii) lowering of the investment income surcharge threshold would be necessary in order to recover a sum equal to that under (a) and under (b), respectively.
§ Mr. Peter ReesI shall let the hon. Member have a reply as soon as possible.