HC Deb 21 March 1979 vol 964 c657W
Sir Anthony Meyer

asked the Chancellor of the Exchequer what would be the cost to the Exchequer of providing a tax-free personal allowance of £40 per week for every taxpayer.

Mr. Robert Sheldon

The estimated cost of raising the main personal allowances to the annual equivalent of £40 per week would be about £5,800 million in a full year at 1978–79 income levels.