Mr. RalphHowell asked the Chancellor of the Exchequer what would be the loss of revenue in 1977–78 if married person's tax allowance were replaced by two single person's tax allowances, each worth £1,200, and which for married couples could be set against the income of either the man or wife.
§ Mr. Robert SheldonIf the single allowance were increased to £1,200 so that the value of two single allowances became equivalent to the combined value of the single and married allowances at their present level, and if the age allowances 343W were similarly altered so that the single age allowance became £1,615, the total cost would be about £2,700 million.