Written Answers. - Income Tax Yield.

Austin Deasy

Question:

47 Mr. Deasy asked the Minister for Finance the estimated yield from income tax in the current financial year on 1 per cent of the 27 per cent rate and 1 per cent of the 48 per cent rate. [8590/96]

Assuming the enactment of the changes proposed in this year's Finance Bill, the estimated yields to the Exchequer of the changes mentioned in the question are as follows:

Increasing the standard rate of income tax to 28 per cent would yield £49.6 million in 1996 (April to December) and £83.5 million in a full year.

Increasing the 48 per cent of income tax to 49 per cent would yield £23.7 million in 1996 (April to December) and £42 million in a full year.