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Income Tax

Volume 298: debated on Tuesday 22 July 1997

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To ask the Chancellor of the Exchequer if he will estimate what additional revenue in Scotland would be raised by a 1p in the pound increase in the rate of income tax at (a) the 20p lower rate, (b) the 23p basic rate and (c) the 40p top rate. [9114]

[holding answer 17 July 1997]: The latest estimates, which relate to 1995–96, are as follows:

Full year yield at 1995–96 income levels £ million
a. Increase lower rate by 1p60
b. Increase basic rate by 1p150
c. Increase higher rate by 1p30