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Income Tax (Yield)

Volume 955: debated on Tuesday 24 October 1978

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asked the Chancellor of the Exchequer if he will update his Written Answer to the hon. Member for Norfolk, South (Mr. MacGregor) concerning income tax yields, Official Report, 26th January, columns 779–80, so as to include complete figures for 1977–78 and best estimates for 1978–79.

I regret that in the time available it has not been possible to provide the information requested. I will write to the hon. Member.

asked the Chancellor of the Exchequer if he will republish the table contained in the Written Answer to the hon. Member for Blaby concerning income tax yields, Official Report, 15th February, columns 275–6, with the addi- tion of comparable figures for 1977–78 and best estimates for 1978–79.

ESTIMATED INCOME TAX DUE IN THE YEAR
£ million
On the allowances and rates of the yearIf yield had risen in line with prices since 1973–74If allowances and thresholds had risen in line with prices since 1973–74, with1973–74 tax ratesOn the allowances and thresholds of the year, but with 1973–74 tax
(1)(2)(3)(4)
1973–748,100
1974–7511,6009,50010,00010,500
1975–7615,70011,90011,70013,500
1976–7717,80013,70013,00015,400
1977–7818,00015,60014,30015,900
1978–7919,40016,90016,90018,900
The figures for 1977–78 and 1978–79 exclude the estimated yields from the first two stages of the switch from child tax allowances and family allowances to child benefit, the inclusion of which would invalidate comparisons with the other columns and with previous years. It follows that in columns (1) and (4) the child tax allowances are those for 1976–77.