§ Mr. BeithTo ask the Chancellor of the Exchequer if he will estimate the revenue which would be raised by applying 9 per cent. national insurance contribution to(a) all non-pensioners' investment income received by basic rate taxpayers and (b) all investment income received by basic rate taxpayers disregarding the first £3,000 investment income in each case.
§ Mr. Maude[holding answer 28 November 1991]: A charge of 9 per cent. on investment income in excess of £3,000 for individuals aged under 65 who are liable to tax only at the basic rate would yield about £220 million in a full year at 1991–92 levels of income. The corresponding yield from basic rate taxpayers aged 65 and over would be about £270 million.