§ Mr. Neil Hamiltonasked the Chancellor of the Exchequer what is the tax yield for the higher rate incomes falling within each band of 40 per cent., 50 per cent., 55 per cent.; and 60 per cent., and if he will give the total yield figure for the current financial year.
§ Mr. Norman Lamont[pursuant to his reply, 27 November 1986, c. 342]: The latest estimates in respect of tax liabilities in 1986–87 are shown below. The figures show the liabilities in excess of the basic rate in respect of the slices of income chargeable at each higher rate.
Tax liabilities 1986–87 Income tax rate (per cent.) Tax in excess of the basic rate (£ billion) 40 0.3 45 0.4 50 0.4 55 0.3 60 0.8 Total 2.2