§ Mr. Malcolm BruceTo ask the Chancellor of the Exchequer what factors underlay the differences in hisestimate for the first year revenue yield from the 50 per cent. rate of income tax on taxable incomes as between his answers of 1 November 1996,Official Report, column 279, and 28 January, Official Report, column 143. [14490]
§ Mr. Jack[holding answer 6 February 1997]: The main factor affecting the change in estimated yields is that the answer of 28 January refers to 1997–98 income levels whereas the answer of 1 November 1996 refers to 1996–97 income levels. Earnings are estimated to grow between the two years, which increases the number of taxpayers affected and therefore increases the yield.