Written question asked by Lord Bruce of Bennachie (Liberal Democrat), in the House of Commons. It was due for an answer on Wednesday, 27 March 1996. It was answered by Michael Jack (Conservative) on Wednesday, 27 March 1996 on behalf of the Treasury.

Treasury

Question: What is his estimate of the full year cost to the Exchequer of raising the value of the personal tax allowance by (a) £100, (b) £200, (c) £300, (d) £400, (e) £500, (f) £1,000, (g) £1,500 and (h) £2,000. - Table given. (Holding answer 26 March 1996).

Answer: Mr. Bruce: To ask the Chancellor of the Exchequer what is his estimate of the full year cost to the Exchequer of raising the value of the personal tax allowance by (a) £100, (b) £200, (c) £300, (d) £400, (e) £500, (f) £1,000, (g) £1,500 and (h) £2,000.[22832] Mr. Jack: [holding answer 26 March 1996]: Estimates are given in the table. Estimated full year costs at 1996-97 income levels (£ billion) _________________________________________________________________________________________________. Increase in non aged and aged personal allowance£ Full year cost £ billion 100 0.6 200 1.2 300 1.8 400 2.4 500 3.1 1,000 6.0 1,500 9.0 2,000 11.5 _________________________________________________________________________________________________.

Secondary information

Type: Written question
Reference: 22832; 274 c610W
Session: 1995-96
Subjects: Allowances Income tax Personal taxation Tax rates and bands Tax yields
Contains statistics: Yes