HC Deb 20 May 1974 vol 874 c35W
Mr. Skeet

asked the Chancellor of the Exchequer what would be the rate of income tax required to produce in England and Wales the same yield as the present rating system.

Dr. Gilbert

In order to raise the same revenue as is received from total rates in England and Wales from income tax on persons it would be necessary at 1974–75 levels of rates and incomes to increase the basic rate of tax—which applies to the United Kingdom as a whole—from 33 per cent. to about 43 per cent.

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