Income Tax

HC Deb 24 February 1976 vol 906 c138W

Mr. Watkinson

asked the Chancellor of the Exchequer what would be the changes required in income tax necessary to produce an extra £4,000 million in taxation.

Mr. Robert Sheldon

At 1975–76 income levels and allowances an increase in the basic rate of income tax from 35 per cent. to 46 per cent. would be required to produce additional revenue of £4,000 million.