Ivan Yates
Question:102 Mr. Yates asked the Minister for Finance the cost of reducing the standard rate of income tax by 1 per cent, 2 per cent and 3 per cent in a full tax year.
Written Answers. - Cost of Reducing Income Tax Rate.
The estimated full year effects on the Exchequer of the changes mentioned by the Deputy are approximately as follows in 1993-94 terms:
|
Standard Rate Reduction |
Full year cost |
|
£ million |
|
|
From 27% to 26% |
74 |
|
From 27% to 25% |
148 |
|
From 27% to 24% |
222 |
These figures are provisional and are likely to be reviewed.