Orders of the Day — 7. Income Tax (Surtax Rates for 1971–72)

– in the House of Commons at 12:00 am on 27th March 1972.

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Motion made, and Question,

(a) income tax for the year 1971–72 shall be charged, in the case of an individual whose total income exceeded £3,000, at rates in respect of the excess of that income over £2,000 which respectively exceed the standard rate by the amounts by which the higher rates for the year 1970–71 exceeded the standard rate for that year; and

(b) an individual whose total income did not exceed £3,500 shall be entitled to have the surtax chargeable by virtue of paragraph (a) above reduced to an amount equal to 40 per cent. of the difference between his total income and £3,000.

And it is hereby declared that it is expedient in the public interest that this Resolution should have statutory effect under the provisions of the Provisional Collection of Taxes Act 1968.—[Mr. Barber.]

put forthwith pursuant to Standing Order No. 94Ways and Means Motions, and agreed to.