HC Deb 28 November 1996 vol 286 c389W
23. Mr. Dykes

To ask the Chancellor of the Exchequer what assessment he has made of the public response to the direct taxation changes in his Budget proposals announced on 26 November. [4880]

Mr. Jack

All income taxpayers—around 26 million people—gain from the Budget proposals. Real increases in personal allowances and the lower rate band help the low paid. Over a quarter of all taxpayers now pay tax at only 20p. All other taxpayers benefit from the 1p cut in the basic rate, which at 23p is the lowest headline rate of income tax for 60 years. In addition, the increase in the inheritance tax threshold allows people to build up wealth and security for their families and for future generations.