asked the Chancellor of the Exchequer if he will estimate, for 1977–78 and 1978–79, the amounts of income tax raised at each of the rates in excess of 33 per cent.
pursuant to his reply[Official Report, 11th December 1978; Vol. 960, c. 47],gave the following information:The available figures, which relate to estimated accruals of tax in the year as distinct from receipts of tax, are as follows:
| Rate per cent | Estimated yield 1977–78 | £ million 1978–79 |
| 40 | 355 | 265 |
| 45 | 280 | 200 |
| 50 | 230 | 195 |
| 55 | 190 | 240 |
| 60 | 290 | 190 |
| 65 | 200 | 200 |
| 70 | 155 | 190 |
| 75 | 250 | 265 |
| 83 | 465 | 510 |
asked the Chancellor of the Exchequer to what level the higher rate of income tax bands would need to be raised to reflect the inflation that has taken place since April 1973; and what would be the cost of raising them accordingly.
pursuant to his reply[Official Report, 11th December 1978; Vol. 960, c. 47], gave the following information:On the basis of the change in the retail prices index between April 1973 and October 1978, the latest month for which a figure is available, the higher rate income tax thresholds would be as follows:
| Rate per cent. | Revalorised level £ |
| 40 | 10,914 |
| 45 | 13,096 |
| 50 | 15,279 |
| 55 | 17,462 |
| 60 | 21,828 |
| 65 | 26,193 |
| 70 | 32,742 |
| *75 | 43,656 |
* In 1973–74 there was no 83 per cent. band.
The estimated cost of an increase to these amounts would be about £495 million.