Tax Credit Scheme (Hansard, 5 July 1984)

HC Deb 05 July 1984 vol 63 c249W 249W

§ Mr. Favell
asked the Chancellor of the Exchequer if he will give his latest estimate for the cost of implementation of a tax credit scheme with details of the basis on which the estimate is reached.

§ Mr. Moore
The cost of a scheme broadly satisfying the objectives of the 1972 Green Paper (Cmnd. 5116) probably remains in the region of £8 billion. This is the estimate — at 1982–83 levels — provided to the Sub-Committee of the Treasury and Civil Service Committee on the structure of personal income taxation and income support. Details of the assumptions on which the estimate is based are on pages 302 to 305 of the Minutes of Evidence (20-I).