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Unearned Income

Volume 115: debated on Wednesday 29 April 1987

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asked the Chancellor of the Exchequer what would be the gain to the Exchequer from raising the standard rate of tax on unearned income to 35 per cent.; and if he will publish in the Official Report a table showing the distribution of the gain for those over and under age 65 by total income band and personal category.

This would depend on the detailed rules and thresholds for calculating the extra tax, for example in the case of a higher rate taxpayer with both earned and unearned income.