asked the Minister for Finance the cost to the Exchequer in terms of tax foregone from the reduction of the top rate of tax from 65 per cent to 60 per cent, and subsequently to 58 per cent since the reductions took place.
Written Answers. - Reduction of Top Rate of Income Tax.
100.
The full year cost, estimated by reference to income tax year 1985-86, of the reduction in the top rate of income tax from 65 per cent to 60 per cent is estimated at £21 million. The corresponding full year cost, estimated by reference to income tax year 1986-87, of that reduction together with the further reduction of the 60 per cent rate to 58 per cent is estimated at £41 million.