10p Tax Rate

Treasury written question – answered on 24th January 2008.

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Photo of Julie Kirkbride Julie Kirkbride Conservative, Bromsgrove

To ask the Chancellor of the Exchequer what estimate he has made of the effect on revenue to the Exchequer arising from the abolition of the 10 pence tax rate; and if he will make a statement.

Photo of Angela Eagle Angela Eagle The Exchequer Secretary, Member, Labour Party National Executive Committee

The yield from removing the 10p starting rate of income tax on non-savings income was published in the Financial Statement and Budget Report 2007 at line 15 of table A1. Removing the 10p starting rate of income tax was one single aspect of the Budget 2007 package, and should not be looked at in isolation from the other changes announced.

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