§ Sir Ian Gilmour
To ask the Chancellor of the Exchequer what would be the extra yield in a full year if income tax were unified with national insurance contribution at a rate of 34 per cent. assuming(a) no change to higher rate income tax and (b) higher rate income tax at 49 per cent.
§ Mr. Norman Lamont
[holding answer 4 June 1991]: At 1991–92 income levels, it is estimated that the net yield of increasing the basic rate of income tax to 34 per cent. and of abolishing national insurance contributions for employees and the self-employed would be about £0.8 billion. This yield would increase to about £3.8 billion if272W
- South Wales and Borders Collection
- South West England Collection
- Tariff and Statistical Office
- Training Services Division
Copies of each of the documents have been placed in the Library. This is an important step towards the full operation of Customs and Excise on next steps lines, and is accompanied by continuing progress on the action programme annexed to the framework document for the Department.