asked the Chancellor of the Exchequer if he will estimate the revenue cost of cutting to 25 per cent. the rate of income tax on (a)the first £500, (b)the first £1·000 and (c)the first £2,500 of taxable income.
At 1976–77 levels of income and allowances the costs of applying a 25 per cent. rate of income tax to the first £500, £1,000 and £2,500
|Total value of relief (£m.)||…||1,100||1,010||45||35|
|Average relief per mortgagor (£)||…||183||190||150||140|
|Average relief per owner occupied dwelling (£)||…||101||107||70||58|
|Average relief per head of population (£)||…||20||22||9||13|