§ Mr. Malcolm BruceTo ask the Chancellor of the Exchequer what is his estimate of the annual cost to the Exchequer of reducing the tax rate applicable to the lower rate income tax band from 20 per cent. to 10 per cent. [28140]
§ Sir George Young[holding answer 12 June 1995]: The direct revenue cost would be about £5.2 billion in a full year at 1995–96 income levels.