§ Mr. Timms
To ask the Chancellor of the Exchequer what estimate he has made of the combined impact on the overall level of taxation of the measures in the Finance Bill. 
§ Mr. Jack
[holding answer 23 January 1997]: The measures in the Finance Bill will raise £390 million in 1997–98, compared to an indexed base. The Finance Bill excludes measures in the Budget that are passed by regulation or statutory instrument, such as measures on business rates and national insurance contributions. The effect of Budget measures, excluding pre-announced measures, is to cut taxes by £735 million in 1997–98, compared to an indexed base.