HL Deb 21 February 1985 vol 460 c803WA
Lord Harris of High Cross

asked Her Majesty's Government:

What would be the estimated loss of revenue if all the higher rates of income tax were reduced to 30 per cent.

The Chancellor of the Duchy of Lancaster and Minister for the Arts (The Earl of Gowrie)

The direct revenue cost would be about £2 billion in a full year.