§ Mrs. WiseTo ask the Chancellor of the Exchequer what the current figure would be if the £8,500 salary threshold after which tax is levied on the value of benefits such as company cars were to be raised to keep it in line with its real value when that £8,500 figure was set.
§ Mr. Norman LamontThe earnings threshold at which benefits like a company car provided for private use becomes taxable was raised to £8,500 in 1979–80. If this threshold had been indexed in line with inflation according to the statutory formula for increasing personal allowances and thresholds, the threshold in 1988–89 would be £17,000.