§ Mr. Tim SmithTo ask the Chancellor of the Exchequer what would be the cost to the Exchequer in 1988–89 of substituting in section 257(5) of the Income and Corporation Taxes Act 1988 one half for two thirds.
§ Mr. Norman Lamont[holding answer 4 May 1988]: The full year cost at 1988–89 income levels of substituting one half for two thirds in section 257(5) of the Income and Corporation Taxes Act 1988 would be around £4 million. The number of single people and married couples in the band of income where age allowance is withdrawn would increase from 130,000 to 160,000.