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Investment Income Surcharge

Volume 32: debated on Wednesday 17 November 1982

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asked the Chancellor of the Exchequer what recent representations he has received regarding the abolition of investment income surcharge; and if 'le will make a statement.

I have received a number of representations suggesting that the burden of investment income surcharge should be reduced or abolished altogether. We have already made considerable progress in this direction by increasing the threshold from £1,700 (£2,500 for the aged) to £6,250 since we took office. My right hon. and learned Friend hopes to do more, but further progress will depend on available resources.