Income Tax

HC Deb 19 February 1971 vol 811 cc593-4W

Mr. Hall-Davis

asked the Chancellor of the Exchequer what his estimate of the cost to the revenue in the financial year 1971–72 of providing reduced rate income tax bands of 32p and 26p of £250, £500, £1,000 and £1,500.

Mr. Patrick Jenkin

The cost for 1970–71 of reduced rate bands with the different widths suggested charged at 32p or 26p would be approximately as follows:

			£m
Band	at 32p	at 26p
£
250	…	…	325	600
500	…	…	525	1,000
1,000	…	…	700	1,300
1,500	…	…	750	1,400