HC Deb 13 February 2001 vol 363 c104W
Mr. Webb

To ask the Chancellor of the Exchequer if he will estimate the additional yield from levying a 50 per cent. income tax rate on(a) taxable incomes and (b) gross incomes above £100,000; and if he will estimate in each case the (i) income tax and (ii) capital gains tax. [148940]

Dawn Primarolo

The full-year effects in 2001–02 of making the changes are set out in the table.

Change in 2001–021 Income tax yield (£ billion)2 Capital gains tax yield (£ million)3
(a) 50 per cent. rate for taxable incomes over £100,000 4 130
(b) 50 per cent. rate for gross incomes over £100,000 3.4 130
1 Estimates are consistent with the November 2000 pre-Budget report
2 Income tax estimates are based on the Survey of Personal Incomes
3 Capital gains tax estimates take into account the likely effect on yield of changes in the volume of disposals in a full year caused by taxpayers' behaviour
4 I refer the hon. Member to the answer I gave my hon. Friend the Member for Nottingham, South (Mr. Alan Simpson) on 15 January 2001, Official Report, column 126W