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Investment Income Surcharge

Volume 479: debated on Thursday 17 July 2008

To ask the Chancellor of the Exchequer if he will estimate the income to the Exchequer in 2007-08 had an investment income surcharge of the form in existence until 1983 been in place. (219777)

Applying a surcharge of 15 per cent. to individuals’ investment income above an exemption limit of £19,000 would yield around £4.9 billion in respect of the 2007-08 tax year, although most of this income would not be received until the following year.