§ Mr. Viggersasked the Chancellor of the Exchequer what would be the estimated diminution of Government revenue if the standard rate of income tax were to be cut by 10 pence in the £.
§ Mr. Robert SheldonAt the present estimated levels of income in 1976–77 the loss of revenue for the year would be about £4,250 million. But the actual loss would depend on the substantial consequential changes to the forecast levels of demand and incomes.