HC Deb 22 November 1983 vol 49 c86W
Dr. McDonald

asked the Chancellor of the Exchequer what is the cost to the Exchequer of allowing (a) all tax reliefs and (b) personal tax allowances against higher rates of tax rather than the standard rate only.

Mr. Moore

[pursuant to his reply, 18 November 1983, c. 596]: The cost at 1983–84 levels of income of allowing personal tax allowances at rates in excess of the basic rate of income tax is estimated at about £300 million. Information on the similar cost of other reliefs is available only in respect of mortgage interest, retirement annuity premiums and employees' superannuation contributions. These reliefs are estimated to cost about £250 million. It is not possible to estimate precisely the combined yield from restricting these reliefs and personal allowances to the basic rate, but it is thought to be about £600 million.