HC Deb 06 March 1990 vol 168 cc591-2W
Mr. Allen

To ask the Chancellor of the Exchequer what contribution the European Investment Bank made to underwriting the Channel tunnel project.

Mr. Ryder

The European Investment Bank approved a loan of £1 billion to the Channel tunnel project in 1987. The European Investment Bank has made no contribution

Average amounts of investment income and earned income
(£ per annum)
Group of income tax payers 1988–89 1989–90
Investment income Earned income Investment income Earned income
Top 1 per cent. 21,230 69,340 27,100 75,700
Top 5 per cent. 8,570 40,680 10,830 44,540
Top 10 per cent. 5,600 32,300 7,280 35,250
Top 20 per cent. 3,720 25,330 4,860 27,660
Top 25 per cent. 3,240 23,390 4,240 25,540
Bottom 70 per cent. 660 8,030 840 8,800
Bottom 50 per cent. 580 6,580 740 7,200
All taxpayers 1,320 12,190 1,720 13,310

Mr. Tony Lloyd

To ask the Chancellor of the Exchequer what further plans he has for abolishing discriminatory provisions for purposes of taxation.

to underwriting the loan. Security for the loan will be provided by the syndicate of banks co-ordinating the financing of Eurotunnel in the form of:

  1. (a) Letters of credit from up to 20 first class commercial banks;
  2. (b) A pro-rata share with the syndicate banks in the charges on the project revenues and assets.

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