To ask the Chancellor of the Exchequer what would be the effect on tax revenues (a) in the first year and (b) in a full year, assuming this is introduced in 1992–93 of the introduction of a 50 per cent. top rate of income tax on annual taxable incomes of (i) £31,555, (ii) £33,555, (iii) £36,555, (iv) £39,555 and (v) £42,555, in Great Britain and Northern Ireland.
[holding answer 9 March 1992]: The information is in the table.
|Estimated yield in 1992–93 from a 50 per cent. tax rate|
|Threshold of taxable income at which 50 per cent. rate is charged £||Yield in a full year1at 1992–93 levels of income (£ million)|
|1 About half of the yield would be collected in the first year.|