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Income Tax

Volume 892: debated on Friday 16 May 1975

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asked the Chancellor of the Exchequer what is the estimated yield of increasing the rate of income tax by two pence; and how this compares with the estimated yield of domestic and business rates, respectively.

a per family basis for each of the years since 1945.

The estimated full-year yield of increasing all rates of income tax by 2p for 1975–76 is about £780 million. This compares with estimated yields in 1975–76 for domestic and business rates of £1,674 million and £2,510 million respectively.