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Income Tax

Volume 24: debated on Friday 21 May 1982

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asked the Chancellor of the Exchequer what would be the cost in each case of taking out of tax the poorest (a) 100,000, (b) 250,000, (c) 500,000, (d) 750,000, (e) 1,000,000 and (f) 1,250,000 taxpayers; and to what level the standard rate of tax would need to be raised to cover the revenue lost in each of these six cases.