Personal Tax Allowance (Hansard, 27 March 1996)

§ Mr. Malcolm Bruce
To ask the Chancellor of the Exchequer what is his estimate of the revenue which would be raised by restricting the value of the personal tax allowance to relief of tax at the 24 per cent. rate and below. [22833]

§ Mr. Jack
[holding answer 26 March 1996]: The estimated full-year yield at 1996–97 income levels from restricting personal allowances to the basic rate is £1.6 billion.

§ Mr. Bruce
To ask the Chancellor of the Exchequer what is his estimate of the full year cost to the Exchequer of raising the value of the personal tax allowance by(a) £100, (b) £200, (c) £300, (d) £400, (e) £500, (f) £1,000, (g) £1,500 and (h) £2,000. [22832]

§ Mr. Jack
[holding answer 26 March 1996]: Estimates are given in the table.

Estimated full year costs at 1996–97 income levels (£ billion)

Increase in non aged and aged personal allowances Full year cost £ billion

100 0.6

200 1.2

300 1.8

400 2.4

500 3.1

1,000 6.0

1,500 9.0

2,000 11.5

611W

Estimated full year costs at 1996–97 income levels (£ billion)
Increase in non aged and aged personal allowances	Full year cost £ billion
100	0.6
200	1.2
300	1.8
400	2.4
500	3.1
1,000	6.0
1,500	9.0
2,000	11.5