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Volume 938: debated on Thursday 10 November 1977

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asked the Chancellor of the Exchequer if he will take steps to end the situation whereby a wife's investment income is added to her husband's income.

I have no proposals at the present time for altering the long-established principle of aggregation as it applies to a married couple's investment income. A wife can, of course, opt for separate assessment of her own income, including her investment income, if she so wishes, though this does not affect the total tax due on the joint income.