HL Deb 12 February 1992 vol 535 cc31-2WA
Lord Rippon of Hexham

asked Her Majesty's Government:

Whether they have any evidence that higher rates of tax yield less revenue.

The Minister of State, Department of Transport (Lord Brabazon of Tara)

The top 5 per cent. of taxpayers are now estimated to account for 32 per cent. of the total yield of income tax, compared with 24 per cent. in 1978–79. During this period the top income tax rate has fallen from 83 per cent. in 1978–79 (with an additional surcharge of 15 per cent. on investment income) to 40 per cent.