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Personal Allowances

Volume 448: debated on Monday 3 July 2006

To ask the Chancellor of the Exchequer if he will estimate the revenue implications of introducing a personal allowance of £7,185, absorbing the starting rate band on earnings and savings in the basic rate band, cutting the basic rate of income tax to 20 per cent., with tax rates on dividends unchanged, increasing the basic rate limit to £42,815, and keeping all age-related allowances at their current level; and if he will make a statement. (80665)