Tax Credit Scheme

HC Deb 09 December 1982 vol 33 c616W

36. Sir David Price

asked the Chancellor of the Exchequer what is the Government's policy towards the introduction of a tax credit scheme.

Mr. Ridley

The Government have no plans at present to introduce a tax credit scheme. A number of the objectives of the 1973 tax credit proposals have since been achieved in other ways. My hon. Friend will be aware that a Sub-Committee of the Treasury and Civil Service Select Committee is currently looking at the whole question of the structure of personal income taxation and income support and we look forward to its report.

44. Mr. Peter Bottomley

asked the Chancellor of the Exchequer which objectives of a tax credit scheme have been met.

Mr. Ridley

Tax credit schemes can take a number of forms and be used to achieve different objectives. The Government's written evidence to the Sub-Committee of the Treasury and Civil Service Select Committee—House of Commons Paper 331–IV—examines in detail the extent to which the objectives of the tax credit scheme proposed in the 1972 Green Paper (Cmnd. 5116) have since been achieved in other ways.