HC Deb 23 March 1990 vol 169 c761W
Mr. Ralph Howell

To ask the Chancellor of the Exchequer what would be the estimated loss in revenue of an increase in the tax threshold to £150 per week for all families and £100 for individuals together with a basic tax rate of 25 per cent. inclusive of national insurance contribution.

Mr. Lilley

At 1990–91 levels of income, the cost in a full year of adopting the tax regime suggested by my hon. Friend and abolishing class 1 national insurance contributions for employees and class 2 and 4 contributions for the self-employed is estimated to be over £30 billion.

This estimate assumes independent taxation and is based on a projection of the 1987–88 survey of personal incomes and is provisional.