§ Mr. Rookerasked the Chancellor of the Exchequer to what the term " extension of indexation provision " in table 2 of the Financial Statement and Budget Report 1980–81 refers; and if he will make a statement.
§ Mr. Peter Rees[pursuant to his reply, 14 April 1980, c. 514]: This entry refers to the proposal my right hon. and learned Friend announced in his Budget Speech to provide for the income tax rate bands and the investment income surcharge threshold to be covered by a statutory indexation provision—[26 March 1980, c. 1476]. The legislation for this purpose, which will include some amendment of the existing 23W indexation provisions for personal allowances, is contained in clause 23 of the Finance Bill.