§ 58. Mr. Simon HughesTo ask the Chancellor of the Exchequer what will be the estimated revenue effect of the Budget increase tax changes as they affect(a) the top 5 per cent. of earners and (b) the bottom 5 per cent. of earners.
§ Mr. Norman LamontThe direct revenue costs in a full year of the Budget income tax changes above indexation for the top 5 per cent. of taxpayers, who will nearly all have earned income, are about £2.7 billion. The corresponding figure for the bottom 5 per cent. of people with some earned income is negligible since the levels of earnings will be below tax thresholds.