Direct Taxation

Part of Economic Situation – in the House of Commons am 12:00 am ar 17 Rhagfyr 1973.

Danfonwch hysbysiad imi am ddadleuon fel hyn

I come now to the taxation of income, where there will be one change. There is a dilemma which has to be squarely faced. Any increase in the basic rate of income tax is bound to hit millions of ordinary people who, through absolutely no fault of their own but entirely as a consequence of the deliberate actions of others abroad and at home, will soon find themselves with thinner pay packets as a result of the three-day working week. So, with one exception, I do not intend to increase the direct taxation of incomes.