asked the Chancellor of the Exchequer if he will give an estimate of the annual sum which would be lost to the Inland Revenue were no Income Tax to be paid on overtime earnings; and the extent by which this loss would be offset as a result of increased production because of the greater incentive created.

I am afraid that this information is not available.

Might it not be well if the Chancellor were to tax his ingenuity in order to devise some method whereby it might be possible for productivity to be increased as a result of the alleviation of the tax on overtime?

Looking at the matter quite objectively, I think my ingenuity is sufficiently taxed already.

May I ask my right hon. and learned Friend whether, in fact, if he did what is proposed in the Question, the tendency would not be for everybody to work overtime and nobody to work during the daytime?

That may be so.