§ Mr. Ian Stewartasked the Chancellor of the Exchequer whether, on the basis of 1978–79 figures and proposed tax rates when they are published, he will estimate the revenue cost of cutting the basic rate of tax to 30 per cent., restoring the main personal allowances to their real equivalent value of April 1973 and restoring the higher rate tax bands to their real equivalent values of April 1973; and if he will indicate the cost of introducing all three changes simultaneously.
§ Mr. Robert SheldonI will let the hon. Member have a reply as soon as possible.
§ Mr. Ian Stewartasked the Chancellor of the Exchequer whether, on the basis of 1978–79 revenue estimates when they are published, he will indicate the revenue cost of reducing the top rate of income tax on earned income to 50 per cent. and on investment income to 65 per cent.
§ Mr. Robert SheldonI will let the hon. Member have a reply as soon as possible.
§ Mr. Ian Stewartasked the Chancellor of the Exchequer whether, on the basis of 1978–79 revenue estimates when they are published, he will indicate the revenue cost of reducing the top rate of income tax on earned income to 60 per cent. and on investment income to 75 per cent.
§ Mr. Robert SheldonI will let the hon. Member have a reply as soon as possible.
§ Mr. Ralph Howellasked the Chancellor of the Exchequer (1) what the loss of revenue would have been for the current financial year if the United Kingdom had adopted the same income tax rates and thresholds as in the United States of America; and if he will express this figure as a percentage of the total revenue expected from income tax in Great Britain;
447W(2) what the loss of revenue from income tax would have been in the current financial year if the same income tax rates and thresholds as operated in France had applied in Great Britain; and what proportion this figure is of the current expected revenue from income tax.
§ Mr. Robert Sheldon, pursuant to his reply [Official Report, 10th April 1978] gave the following information:
I regret that an Answer could be supplied only at a disproportionate cost.