HC Deb 03 July 1979 vol 969 cc555-6W
Mr. Kaufman

asked the Chancellor of the Exchequer, pursuant to his answer on 21 June to the right hon. Member for Manchester, Ardwick, whether the 240,000 taxpayers benefiting from the reduction of the maximum rate 60 per cent. are entirely subsumed within the 1,110,000 benefiting from the increase in the starting point of the higher rates to £10,000; whether they are entirely additional to them, bringing the total in the two categories to 1,350,000, or whether there is a partial overlap; and in which case what is the total for the two combined.

Mr. Peter Rees

, pursuant to his reply [Official Report, 28 June 1979], gave the following answer:

All taxpayers benefiting from the reduction in the top rate of tax to 60 percent.

I recognise the genuine fears that a strong pound may make it harder in the short run to sell British exports in competitive world markets, but a rise in exchange rate also helps to restrain the increase in domestic costs, and reduce the rate of inflation by lowering the cost of imported raw materials. The best way to increase our exports is by improving productivity, non-price competitiveness and the supply side of the economy. This is the purpose of the Government's policy and of the measures in my Budget speech.

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