Skip to main content

Independent Taxation

Volume 164: debated on Monday 8 January 1990

The text on this page has been created from Hansard archive content, it may contain typographical errors.

To ask the Chancellor of the Exchequer if he will provide the latest estimate of the cost of bringing in independent taxation in 1990–91 next April.

[holding answer 20 December 1989]: I refer the hon. Member to my reply to the hon. Member for Great Grimsby (Mr. Mitchell) on 18 December, Official Report, col 26, for the reduction in income tax liabilities in 1990–91 due to the introduction of independent taxation.The corresponding reduction in income tax receipts in 1990–91 is £500 million.The estimated effect on the receipts of capital gains tax in 1990–91 is unchanged from the tentative figure of £50 million published in the 1988 Financial Statement and Budget Report.