§ Mr. Pawseyasked the Chancellor of the Exchequer if he will estimate the amount of the total revenue in the present financial year from income tax that arises from tax levied at the standard rate, and the amount that arises from tax levied at higher rates; and if he will make similar estimates for 1983–84.
§ Mr. RidleyEstimates of the total receipts of income tax are £30,220 million in 1982–83 and £31,400 million in 1983–84. The available breakdown by basic and higher rates relates to the tax due on the estimated income base of the year rather than to the tax received in the year. In percentages it is as follows:
1982–83 1983–84 per cent. per cent. Basic rate tax 90 90½ Higher rate tax* 10 9½ Of which: Excess over basic rate; 4½ 4 Basic rate element 5½ 5½ * Including investment income surcharge; which accounts for some 3¾ per cent. of total income tax due in both years.