§ Dawn Primarolo
The estimated full year yield at 1997–98 income levels of increasing the top rate of income tax from 40 per cent. to 50 per cent is £5.3 billion. The yield includes the consequential effects on the yield of capital gains tax after allowing for likely changes in the volume of disposals. It does not take account of any behavioural effects which might result from the introduction of the new rate.