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Income Tax

Volume 281: debated on Wednesday 17 July 1996

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To ask the Chancellor of the Exchequer what was the highest rate of tax on income in (a) 1978–79, (b) 1983–84 and (c) 1995–96. [37577]

The highest rates of income tax were 83 per cent. on earned income and 98 per cent. on investment income in 1978–79, 60 per cent. on earned income and 75 per cent. on investment income in 1983–84 and 40 per cent. and earned and unearned income in 1995–96.