HC Deb 05 February 1976 vol 904 c703W
23. Mr. Gow

asked the Chancellor of the Exchequer by how much he would be able to reduce the basic rate of income tax if the amount of debt interest in the current financial year were the same as that for the year ended 5th April 1973.

Mr. Joel Barnett

A reduction in income tax equal, in a full year, to the difference between debt interest for 1972–73 and that forecast for 1975–76 would amount to about 7p off the basic rate.

Forward to