§ Mr. David NicholsonTo ask the Chancellor of the Exchequer what the cost or saving at current prices and assumptions would be of(a) a tax-free allowance of £10,000 to all income tax payers, (b) a flat rate income tax rate of 20 per cent. on the remainder of all incomes and (c) abolition of all other income tax allowances; and what the full-year tax saving would be of (a) and (b) for a person with income of (i) £20,000, (ii) £40,000, (iii) £80,000, (iv) £160,000 and (v) £400,000. [21438]
§ Mr. JackAvailable information was given in my answer to the hon. Member for Dover (Mr. Shaw) on 7 February,Official Report, column 186.
The tax savings for individuals with the specified income levels would depend on their levels of allowances and reliefs as well as incomes.