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Tax Allowances

Volume 130: debated on Wednesday 30 March 1988

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To ask the Chancellor of the Exchequer if he will estimate the yield in 1989–90 from reducing capital gains tax allowances to the level of personal allowances.

About £10 million. The levels of personal allowances substituted for the annual exempt amount as a basis for this reply are those proposed in chapter 4 of the Financial Statement and Budget Report 1988–89 (Cm. 361).