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Investment Income Surcharge

Volume 892: debated on Friday 16 May 1975

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asked the Chancellor of the Exchequer what is his estimate of the yield from investment income surcharge in the year 1974–75 and the cost of reducing the surcharge by 5 per cent. and by 10 per cent.

The estimated yield of the investment income surcharge for the year 1974–75 is £175 million. If both the lower and higher rates of surcharge were reduced by 5 or 10 percentage points this yield would be less by about £65 million or £130 million, respectively.