§ Mr. ThurnhamTo ask the Chancellor of the Exchequer what would be the increase in the standard rate of income tax necessary to raise an extra £21.5 billion per year; and if he will make a statement.
§ Mr. LilleyAt 1990–91 income levels an increase of about 12 pence would be required, raising the basic rate of income tax from 25 pence to 37 pence. This estimate does not allow for any behavioural effects that might result from such an increase.