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Investment Income Surcharge

Volume 893: debated on Friday 13 June 1975

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asked the Chancellor of the Exchequer how many people over 65 and how many over 70 years of age are called upon to pay the investment surcharge but are not able to draw national insurance retirement pension; and whether he will make a statement.

The estimated number of taxpayers over 65 who are expected to be liable to investment income surcharge for 1975–76 is about 270,000. I regret that it is not possible to distinguish which of these are not able to draw national insurance retirement pension nor how many are over 70 years of age.