§ Mr. Ralph Howell
asked the Chancellor of the Exchequer what would be the loss of revenue in the next financial year if the statutory indexation provisions for personal allowances of the Finance Act 1977 were fully implemented in the forthcoming Budget.
§ Mr. Ridley
£930 million in a full year and £760 million in 1983–84, on the basis of the 1977 statutory indexation provisions, as amended by the Finance Act 1980. These figures do not include the cost of indexing the higher rate and investment income surcharge thresholds, which are also covered by the 1980 indexation provisions.