§ Mr. Matthew BanksTo ask the Chancellor of the Exchequer how many taxpayers paid tax at the lower and basic rates between 1992–93 and 1996–97. [3972]
§ Mr. JackThe figures are set out in the table. Over a quarter of taxpayers now have a marginal rate of only 20 per cent.
Millions 1992–93 1993–94 1994–95 11995–96 11996–97 Lower rate1 4.24 5.39 5.18 5.6 7.1 Basic rate 19.40 17.87 18.17 18.0 16.5 Notes:
1Provisional.
2From 1993–94 onwards a number of taxpayers with taxable income in excess of the lower rate limit pay tax only at the lower rate. This is because their dividend and (from 1996–97) their savings income takes their taxable income above the lower rate limit and such income is chargeable to tax at the lower and not the basic rate. The numbers in this category for the four years between 1993–94 and 1996–97 are 0.22/0.24/0.3/0.8 millions respectively.