§ Mr. CanavanTo ask the Chancellor of the Exchequer what percentage of income taxpayers will benefit from reducing the top rate of tax to 40 per cent.; and what is the revenue effect of this measure.
§ Mr. Norman LamontAbout 4.5 per cent. of income tax payers will benefit from reducing the top rate of tax to 40 per cent. at a direct revenue cost of £2,070 million in a full year.