§ Sir Ralph HowellTo ask the Chancellor of the Exchequer what would be the cost to the Exchequer of raising the income tax threshold to £100 per week for each person liable to pay income tax.
§ Mr. DorrellCompared with statutory indexation of allowances and thresholds by 1.8 per cent, the estimated full year cost of raising the personal allowance to £5,200 at 1994–95 income levels would be about £10 billion.
§ Sir Ralph HowellTo ask the Chancellor of the Exchequer how many people had incomes of less than £100 per week at the latest date for which figures are available; how many of these paid income tax; and what proportion of the national average wage is represented by £100 per week.
§ Mr. DorrellThe latest estimates for 1993–94 are that about 23.2 million people aged over 16 have incomes below £100 per week, of whom about 2.5 million are taxpayers. The sum of £100 is about 28 per cent. of average earnings for full-time adult males.