§ Mr. AllenTo ask the Chancellor of the Exchequer what is his latest estimate of the revenue which would be raised by a tax rate of 50 per cent. on taxable incomes of £70,000, and at decreasing £5,000 levels from this level.
§ Mr. Maude[holding answer 27 January 1991]The information is in the table.
Estimated yields in 1992–93 from a 50 per cent. tax rate Threshold of taxable income at which 50 per cent. rate is charged (£) Yield at 1992–93 levels of income (£ million) 25,000 3,360 30,000 2,700 35,000 2,250 40,000 1,920 45,000 1,670 50,000 1,470 55,000 1,320 60,000 1,190 65,000 1,090 70,000 1,000 These estimates do not allow for any behavioural effect that might result from such changes to the tax system and do not include capital gains tax.