§ Mr. Ian Stewartasked the Chancellor of the Exchequer whether he will estimate the revenue cost of indexing the threshold and bands of higher rates of income tax by the same amount as is required for 52W duced by income from employment, income from self-employment, company profits and public corporations' trading surplus in the years 1955, 1956, 1975 and 1977. Corresponding data for 1945 were not compiled and data for 1978 are not yet available.
the personal allowances under section 22 of the Finance Act 1977, (a) on the basis of 1978–79 earnings, and (b) on an assumption that 1979–80 earnings exceed those of 1978–79 by 15 per cent.
§ Mr. Robert SheldonI shall let the hon. Member have a reply as soon as possible.
§ Mr. Ian Stewartasked the Chancellor of the Exchequer whether he will estimate the likely revenue cost in 1979–80 of complying with the indexation provisions of section 22 of the Finance Act 1977, in his forthcoming Budget (a) on the basis of 1978–79 earnings and (b) on an assumption that 1979–80 earnings exceed those of 1978–79 by 15 per cent.; and if he will state the basis of indexation as provided by the retail price index and the levels to which the allowances would have to be raised.
§ Mr. Robert SheldonI shall let the hon. Member have a reply as soon as possible.