Vol. 437 No. 6
144 Mr. Cox asked the Minister for Finance if he will estimate the yield from the 1 per cent income levy from 6 April 1994 to 31 December 1994, and in a full year, for each £1,000 increase in the threshold of liability between the current threshold of £9,000 and £25,000.
The following table sets out the estimated yields, in 1994-95 terms, which would arise from the income levy under each of the options for thresholds outlined in the question.
|
Income Levy Threshold |
Estimated Yield in 1994 |
Estimated Full Year Yield |
|
£ |
£m |
£m |
|
9,000 |
83 |
135 |
|
10,000 |
80 |
130 |
|
11,000 |
76 |
124 |
|
12,000 |
73 |
118 |
|
13,000 |
68 |
110 |
|
14,000 |
65 |
105 |
|
15,000 |
61 |
99 |
|
16,000 |
57 |
93 |
|
17,000 |
54 |
88 |
|
18,000 |
51 |
83 |
|
19,000 |
48 |
77 |
|
20,000 |
44 |
72 |
|
21,000 |
41 |
66 |
|
22,000 |
38 |
61 |
|
23,000 |
35 |
56 |
|
24,000 |
32 |
51 |
|
25,000 |
29 |
47 |
