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Mr. Knox
asked the Chancellor of the Exchequer how much revenue would be raised if all income above £5,000, £6,000, £7,000, £8,000, £9,000, £10,000 and £20,000 were taxed at a marginal rate of 100 per cent.; and what the total of extra revenue in each case would be if existing revenue were subtracted.
Mr. Robert Sheldon
Assuming that the allowances and rates of tax prepared for 1975–76 apply the figures are as follows:
| Limit of net income after tar | Yield |
| £ | £m |
| 5,000 | 960 |
| 6,000 | 450 |
| 7,000 | 235 |
| 8,000 | 100 |
| 9,000 | 65 |
| 10,000 | 35 |
| 20,000 | 5 |