§ Mr. Malcolm BruceTo ask the Chancellor of the Exchequer what is his estimate of the annual cost of exempting the first(a) £200, (b) £250, (c) £400, (d) £500, (e) £750, and (f) £1,000 of income from savings and investments from income tax. [22775]
§ Mr. Jack[holding answer 26 March 1996]: The full-year costs at 1996–97 income levels are given in the table. The estimates do not take account of any behavioural effects which might result from the introduction of such an exemption.
Exemption limit £ Cost in full year at 1996–97 income levels £ million 200 620 250 720 400 990 500 1,100 750 1,500 1,000 1,700