§ Mr. David Priceasked the Chancellor of the Exchequer what are his estimates of the cost to the Revenue in 1979–80 and in a full year of raising the tax-free luncheon vouchers from 15 pence per day to 30 pence, 60 pence, 90 pence and £1 per day, respectively.
152W
§ Mr. Peter Rees,pursuant to his reply [Official Report, 24 May 1979; Vol. 967, c. 194], gave the following answer.
The cost in a full year at 1978–79 income levels would be £12 million, £36 million, £60 million and £68 million respectively. The cost in 1979–80 would depend upon the income levels and tax rates of that year.