§ Ms PrimaroloTo ask the Chancellor of the Exchequer what estimate he has made of the reduction in tax paid per year in cash terms, and as a percentage of the total gross annual income, for each income decile group, resulting from a 1p reduction in the standard rate of income tax. [4467]
500W
§ Mr. Jack[holding answer 18 November 1996]Information on the effect of a 1p reduction in the basic rate of income tax at 1996–97 income levels is given in the table.
Group of taxpayers per cent. Reduction in income tax £ million Reduction as a percentage total income per cent. Top 10 520 0.4 11-20 380 0.6 21-30 270 0.5 31-40 190 0.5 41-50 130 0.4 51-60 80 0.3 61-70 40 0.2 71-80 10 under 0.1 81-90 0 0 Bottom 10 0 0