§ Dr. McDonaldasked the Chancellor of the Exchequer what is the effect on revenue in 1984–85 of the decisions made in Budgets from 1982 onwards to raise higher tax bands over and above the rate of inflation.
§ Mr. Moore[pursuant to his reply, 11 February 1985, c. 61]: If the 1981–82 basic rate limit and higher rate income tax bands were indexed to 1984–85 by reference to the statutory formula and substituted for those currently in force, the direct revenue effect would be a yield of about £270 million in a full year at 1984–85 levels of income.