§ Mr. Lomasasked the Chancellor of the Exchequer what would be the cost of reducing the number of income tax bands from the present 10 to the five suggested, if the taxable income up to £7,000 was reduced to 30 per cent., the taxable income of £7,001 to £10,000 was reduced to 35 per cent., the taxable income of £10,001 to £14,000 was reduced to 40 per cent., the taxable income of £14,001 147W to £21,000 was reduced to 60 per cent., and the taxable income of over £21,000 was reduced to 70 per cent.
§ Mr. Robert SheldonAbout £2,375 million at 1977–78 income levels.