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Set And Income Tax

Volume 805: debated on Tuesday 27 October 1970

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65.

asked the Chancellor of the Exchequer if it is the policy of Her Majesty's Government to abolish capital gains tax, reduce corporation tax, eliminate selective employment tax and reduce income tax this year; and what loss to the revenue will be involved by these measures.

The Government's policy, as stated in our Election Manifesto, is to reduce taxation; simplify the tax system; and abolish the selective employment tax. The necessary proposals, giving details of the cost to the revenue, will be brought before Parliament at the appropriate time.