Mr Major’s Written Parliamentary Answer on the Income Tax Allowance – 13 November 1989

Below is the text of Mr Major’s written Parliamentary Answer on the Income Tax Allowance on 13th November 1989.

Mr. Denzil Davies To ask the Chancellor of the Exchequer what is his estimate of the additional revenue accruing to the Exchequer in the next fiscal year of not indexing to the rate of inflation the income tax allowance, assuming an inflation rate of 8 per cent. and no change in the income tax rate.

Mr. Major Estimates of the revenue cost of indexation for 1990–91 will be published in the Autumn Statement later this month.