HC Deb 11 March 1987 vol 112 c207W
Mr. Austin Mitchell

asked the Chancellor of the Exchequer whether he will publish in the Official Report a table showing the estimated gain to the Exchequer from (i) an increase of 1p in the standard rate of income tax and (ii) a reduction of £100 in, respectively, the married and single allowances.

Mr. Norman Lamont

Estimates — consistent with information provided in the Autumn Statement 1986 (Cm 14)—are as follows:

£ million
1987–88 1988–89
Increase of 1p in basic rate1 1,100 1,450
Reduction of £100 in:
married man's allowance2 235 300
single2 and wife's earned income allowance 290 380
1 Including the consequential effect of an increase in the rate of advance corporation tax.
2 Excluding age allowance