HL Deb 11 June 1982 vol 431 c450WA
Lord Harris of High Cross

asked Her Majesty's Government:

What would be the approximate cost to the Revenue of:

  1. (a) raising the present starting threshold for income tax by (i) 10 per cent., and (ii) 25 per cent.; and
  2. (b) raising thresholds for all rates of tax by (i) 10 per cent., and (ii) 25 per cent.

Lord Cockfield

The approximate costs in a full year at 1982–83 income levels are as follows:

  1. (a) raising all main personal allowances by (i) 10 per cent., £1,600 million; (ii) 25 per cent., £3,850 million;
  2. (b) raising all main personal allowances, higher rate thresholds and investment income surcharge thresholds by (i) 10 per cent., £1,850 million, (ii) 25 per cent., £4,300 million.