§ Mr. Newtonasked the Chancellor of the Exchequer what the principal personal income tax allowances would have to be in April 1977 to restore their real value to that of April 1973 and April 1976, respectively, assuming (a) an inflation rate of 17 per cent. in the year to April 1977, and (b) an inflation rate of 20 per cent. in the year to April 1977; and if he will state the cost of the appropriate changes in each case.
§ Mr. Robert SheldonI will let the hon. Member have a reply as soon as possible.