§ Mr. Austin Mitchellasked the Chancellor of the Exchequer whether he will publish in the Official Report a table showing the estimated gain to the Exchequer from (i) an increase of 1p in the standard rate of income tax and (ii) a reduction of £100 in, respectively, the married and single allowances.
§ Mr. Norman LamontEstimates — consistent with information provided in the Autumn Statement 1986 (Cm 14)—are as follows:
£ million 1987–88 1988–89 Increase of 1p in basic rate1 1,100 1,450 Reduction of £100 in: married man's allowance2 235 300 single2 and wife's earned income allowance 290 380 1 Including the consequential effect of an increase in the rate of advance corporation tax. 2 Excluding age allowance