§ Mr. Maxwell-HyslopTo ask the Chancellor of the Exchequer what tax yield he estimates would be lost in the financial year 1988–89 if the limit set by the Inland Revenue on pension policies whose contributions qualify 721W for tax remission were increased to (a) 75 per cent. and (b) 80 per cent. of final salary or pay in the year of retirement.
§ Mr. Norman LamontI regret that this information is not available.
Net receipts of corporation tax1 Cash terms At constant (1978–79) prices2 As percentage of total taxes and royalties £ million £ million Per cent. 1978–79 3,940 3,940 8.1 1979–80 4,646 3,980 7.6 1980–81 4,645 3,350 6.5 1981–82 4,930 3,240 5.7 1982–83 5,679 3,480 6.2 1983–84 6,184 3,620 6.4 1984–85 8,341 4,680 7.8 1985–86 10,708 5,670 9.4 1986–87 13,495 6,940 11.3 1 Including advance corporation tax. 2 By reference to movements in the GDP deflator.