HC Deb 09 April 1962 vol 657 cc87-8W
80. Mr. Mulley

asked the Chancellor of the Exchequer if he will state the total actual yield from tobacco taxes in the last financial year, and the amount by which it would be necessary to increase the standard rate of Income Tax to produce a similar amount of revenue.

Sir E. Boyle

About £870 million. The required increase in the standard rate of Income Tax would be 2s. 5d., with consequentialpro rata increases in the reduced rates.