§ Mr. CarrTo ask the Chancellor of the Exchequer what would be the yield/cost in 1991–92 and 1992–93 on both a first year and a full year basis of(a) raising the basic rate limit to taxable income of £29,000,
388W and £46,000, (c) charging higher rate tax at 41 per cent. on taxable income above £46,000, (d) restricting all personal tax allowances to the basic rate, (e) restricting relief for pension contributions made by individuals to the basic rate, (f) a combination of (a), (b), (c) and (d) and (g) a combination of (a), (b), (c) and (e).
Privatisation proceeds 1979–80 to 1990–91 ( outturn) 1979–80 1980–81 1981–82 1982–83 1983–84 1984–85 1985–86 1986–87 1987–88 1988–89 1989–90 1990–91 Enterprise Oil — — — — — 384 — — — — — — Forestry Commission — — — 14 21 28 15 16 13 12 15 11 General Practice Finance Corporation — — — — — — — — — 67 — — Harland and Wolff — — — — — — — — — — 8 — Land Settlement — — — — 2 12 5 2 — — — — Motorway Service Area Leases — — — 4 1 — — 2 1 — 2 7 National Enterprise Board Holdings 37 83 2 — — 168 30 34 — — — — National Freight Consortium — — 15 — — — — — — — — — Professional and Executive Recruitment — — — — — — — — — 5 — — Plant Breeding Institute — — — — — — — — 265 — — — Rolls-Royce — — — — — — — — 1,029 3 — — Rover Group — — — — — — — — — — 3150 —
§ Mr. MaudeEstimates of the increase in liability to income tax compared with statutory indexation in 1992–93 are as follows. They do not allow for any behavioural effects that might result from such a change to the tax system and do not include capital gains tax:
£ million Cost(-)/yield (+) in a full year at 1992–93 levels of income Tax regime specified in (a), (b) and (c) -1,530 (d) Restriction of all personal allowances to the basic rate +1,460 (e) Restriction of pension contributions to the basic rate +400 (f) Combination of (a), (b), (c) and (d) -820 (g) Combination of (a), (b), (c) and (e) -1,250 Approximately one half of the full year yield from such regimes would affect income tax receipts in the first year.