§ Mr. Bestasked the Chancellor of the Exchequer if he will give the figures of the net benefit to the Treasury in a full year of bringing unemployment benefit into tax but restoring (a) the 2 per cent. shortfall, (b) the 5 per cent. shortfall and (c) both.
Mortgage Interest Rate after Tax Relief Marginal* rate of income tax Earned income and investment income not liable to surcharge Mortgage interest rate per cent. 30 per cent. 40 per cent. 45 per cent. 50 per cent. 55 per cent. 60 per cent. 12 8.4 7.0 6.6 6.0 5.4 4.8 12½ 8.7 7.3 6.9 6.2 5.6 5.0 13 9.1 7.5 7.1 6.5 5.8 5.2 13½ 9.4 7.8 7.4 6.7 6.1 5.4 14 9.8 8.1 7.7 7.0 6.3 5.6 14½ 10.1 8.4 7.9 7.2 6.5 5.8 15 10.5 8.6 8.2 7.5 6.7 6.0 15½ 10.8 8.9 8.4 7.7 7.0 6.2
Marginal* rate of income tax Investment income liable to surcharge† Mortgage interest rate Percent 45 per cent. 55 per cent. 60 per cent. 65 per cent. 70 per cent. 75 per cent. 12 6.6 5.2 4.8 4.2 3.6 3.0 12½ 6.9 5.4 5.0 4.4 3.7 3.1 13 7.1 5.6 5.2 4.5 3.9 3.2 13½ 7.4 5.8 5.4 4.7 4.0 3.4 14 7.7 6.0 5.6 4.9 4.2 3.5 14½ 8.0 6.2 5.8 5.1 4.3 3.6 15 8.2 6.4 5.9 5.2 4.5 3.7 15½ 8.5 6.6 6.1 5.4 4.6 3.9 * Assuming that the maximum amount of relief—that is the whole band width—is available at the marginal rate shown with any additional relief at the next highest rate. † Invesement income surchsge is 15 per cent.