Ivan Yates
Question:104 Mr. Yates asked the Minister for Finance the cost of exempting tax for a single person, that is, raising the threshold of tax free allowance to the levels of £80, £90 and £100 per week.
Written Answers. - Tax Free Allowance.
Assuming the enactment of this year's Finance Bill the information requested by the Deputy is as follows:
|
Single Tax Free Allowance Per Week |
Estimated Full Year Cost to the Exchequer (1993-94) |
|
£ |
£ million |
|
80 |
760 |
|
90 |
941 |
|
100 |
1,118 |
The answer takes account of the assumption that any increase in the single allowance must be combined with an equal increase in the allowance for widowed persons and with double that increase in the allowance for married persons assessed to tax on the aggregate basis.