§ Mr. Dorrellasked the Chancellor of the Exchequer if he will publish his estimate of the revenue effect of full indexation of income tax personal allowances and thresholds for 1981–82 and 1982–83.
§ Mr. Ridley[pursuant to his reply, 11 February 1982, c. 475]: The full year cost at 1981–82 income levels of indexing allowances and thresholds according to the provisions of section 24 of the Finance Act 1980 would be as follows:
- (a) Based on the increase in the retail prices index between December 1980 and December 1981–£2,040 million.
- (b) Based on the increase in the retail prices index between December 1979 and December 1981–£4,600 million.