Below is the text of Mr Major’s written Parliamentary Answer on the Trade Balance on 12th January 1988.
Sir Brandon Rhys Williams To ask the Chancellor of the Exchequer (1) if he will publish estimates of the effect on the trade balance of (a) a reduction in the standard rate of income tax to 25 per cent. and (b) an uprating of child benefit requiring the same increase in purchasing power;
(2) if he will publish an estimate of the effect on the trade balance in a full year of the reduction in the standard rate of income tax to 27 per cent. in 1987–88.
Mr. Major It has not been the practice to publish estimates of the economic effects of changes in tax or benefit rates.