HC Deb 22 January 1980 vol 977 c196W
Mr. Rooker

asked the Chancellor of the Exchequer what increase would be required to the rate of income tax to make up for the abolition of capital gains tax.

Mr. Peter Rees

[pursuant to his reply, 21 January 1980]: Less than 1p on the basic rate. This assumes that corporation tax on chargeable gains would be retained.