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Income Tax—Revenue Receipts

Volume 129: debated on Thursday 10 March 1988

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88.

To ask the Chancellor of the Exchequer what studies he has made of the relationships between levels of income tax and resultant revenue.

Many factors influence the yield of income tax. Since 1985–86 the basic rate of income tax has been reduced from 30p to 27p, but growth in the economy and other developments have led to the yield of income tax increasing in both nominal and real terms.