§ Mr. Frank FieldTo ask the Chancellor of the Exchequer to what level the basic rate of income tax would have to be raised to meet the cost of raising the state retirement pension to 8 per cent, of GDP by 2050. [113547]
§ Mr. BoatengIt is not possible to provide accurate calculations of the revenue impact of rates of income tax as, far ahead as 2050. In particular, the structure of taxation and the distribution of income are likely to change materially over the long term.