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Column 195
Written Answers to Questions
Thursday 8 June 1989
NATIONAL FINANCE
Public Debt
8. Mr. Allan Stewart : To ask the Chancellor of the Exchequer what is his estimate of the proportion of the public debt which will have been repaid in the three years to 1989-90.
36. Mr. Neil Hamilton : To ask the Chancellor of the Exchequer what is his estimate of the proportion of the public debt which will have been repaid in the three years to 1989-90.
120. Mr. Ian Taylor : To ask the Chancellor of the Exchequer what is his estimate of the proportion of the public debt which will have been repaid in the three years to 1989-90.
Mr. Major : It is estimated that roughly one sixth of net public sector debt will have been repaid in the three years to 1989-90.
Company Cars
13. Mr. Riddick : To ask the Chancellor of the Exchequer how many tax-payers will be affected by the increased company-car tax rates (a) in total and (b) those driving more than 18,000 business miles per annum.
Mr. Norman Lamont : The increase in company car scale charges for 1989-90 will affect about 1.4 million car drivers, of which about 0.3 million drive more than 18,000 business miles per year.
Income Tax
21. Mr. Hind : To ask the Chancellor of the Exchequer what would be the increased income tax payable by a married man on average earnings if the basic rate of income tax were restored to 33 per cent.
45. Mr. Ian Bruce : To ask the Chancellor of the Exchequer what would be the increased income tax payable by a married man on average earnings if the basic rate of income tax were restored to 33 per cent.
Mr. Greg Knight : To ask the Chancellor of the Exchequer what would be the increased income tax payable by a married man on average earnings if the basic rate of income tax were restored to 33 per cent.
Mr. Norman Lamont : If the basic rate of income tax were increased to 33 per cent. a married man on average male earnings would pay an additional £15.12 per week in income tax in 1989-90.
60. Mr. Brandon-Bravo : To ask the Chancellor of the Exchequer if he will make a statement setting out the Government's objective for the basic rate of income tax.
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81. Mr. David Shaw : To ask the Chancellor of the Exchequer if he will make a statement setting out the Government's objective for the basic rate of income tax.
83. Mr. Gwilym Jones : To ask the Chancellor of the Exchequer if he will make a statement setting out the Government's objective for the basic rate of income tax.
Mr. Norman Lamont : It remains the Government's aim, as my right hon. Friend announced in his 1988 Budget Statement, to reduce the basic rate of income tax to 20p in the pound as soon as it is prudent and sensible to do so.
79. Mr. John Greenway : To ask the Chancellor of the Exchequer what changes were made in the basic rate of income tax from 1974 to 1979 ; and what changes have been made since 1979.
96. Mr. Franks : To ask the Chancellor of the Exchequer what changes were made in the basic rate of income tax from 1974 to 1979 ; and what changes have been made since 1979.
118. Miss Widdecombe : To ask the Chancellor of the Exchequer what changes were made in the basic rate of income tax from 1974 to 1979 ; and what changes have been made since 1979.
Mr. Norman Lamont : Information is given in the table.
Year |Basic rate of income tax
|per cent.
---------------------------------------------------------------------------
1974-75 |33
1975-76 to 1976-77 |35
1977-78 |34
1978-79 |33
1979-80 to 1985-86 |30
1986-87 |29
1987-88 |27
1988-89 to 1989-90 |25
88. Mr. Page : To ask the Chancellor of the Exchequer what was the highest marginal rate of tax on income paid during the period 1974 to 1979 ; and what is the equivalent rate in 1989-90.
102. Mrs. Currie : To ask the Chancellor of the Exchequer what was the highest marginal rate of tax on income paid during the period 1974 to 1979 ; and what is the equivalent rate in 1989-90.
128. Mr. Mans : To ask the Chancellor of the Exchequer what was the highest marginal rate of tax on income paid during the period 1974 to 1979 ; and what is the equivalent rate in 1989-90.
Mr. Norman Lamont : In each of the years 1974-75 to 1978-79 the highest marginal rate of income tax was 83 per cent. on earned income and 98 per cent. on investment income. For 1989-90 the highest marginal rate of income tax is 40 per cent.
Mr. Hunter : To ask the Chancellor of the Exchequer what proportion of total income tax revenue was paid by higher rate taxpayers in 1978-79 ; and what proportion was paid by them in 1988-89.
Mr. Norman Lamont : In 1978-79 higher rate taxpayers were liable to pay 20 per cent. of total income tax due. By 1988-89 their share had increased to 32 per cent.
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Labour Statistics
52. Mr. Couchman : To ask the Chancellor of the Exchequer by how much employment in the United Kingdom has risen since 1983.
56. Mr. Charles Wardle : To ask the Chancellor of the Exchequer by how much employment in the United Kingdom has risen since 1983.
58. Mr. Summerson : To ask the Chancellor of the Exchequer by how much employment in the United Kingdom has risen since 1983.
76. Mr. Cash : To ask the Chancellor of the Exchequer by how much employment in the United Kingdom has risen since 1983.
Mr. Major : Total employment in the United Kingdom has increased by 2,951,000 since March 1983.
64. Mr. Stevens : To ask the Chancellor of the Exchequer how many people are now registered as self-employed ; and what was the comparable figure in 1979.
106. Mr. Andrew Mitchell : To ask the Chancellor of the Exchequer how many people are now registered as self-employed ; and what was the comparable figure in 1979.
Mr. Major : In December 1988 3,048,000 people were self-employed in the United Kingdom compared with 1,906,000 in June 1979, an increase of 60 per cent.
82. Mr. Thorne : To ask the Chancellor of the Exchequer for how many months adult unemployment has fallen continuously in the United Kingdom.
Mr. Major : Unemployment in the United Kingdom has fallen for 33 months in succession.
Manufacturing Output
22. Mrs. Peacock : To ask the Chancellor of the Exchequer what has been the annual rate of growth of manufacturing output over the last two years.
69. Mr. William Powell : To ask the Chancellor of the Exchequer what has been the annual rate of growth of manufacturing output over the last two years.
Mr. Major : In the two years to the first quarter of this year, manufacturing output grew at an average annual rate of 7.1 per cent.
Manufacturing Investment
23. Mr. Mills : To ask the Chancellor of the Exchequer what is the latest official projection for the growth of manufacturing investment in 1989.
Mr. Major : I refer my hon. Friend to the reply my right hon. Friend the Chancellor of the Exchequer gave earlier today to my hon. Friend the Member for Wanstead and Woodford (Mr. Arbuthnot).
30. Mr. Hoyle : To ask the Exchequer what was the level of manufacturing investment in the United Kingdom in 1979 and 1988.
91. Mr. Lewis : To ask the Chancellor of the Exchequer what was the level of manufacturing investment in the United Kingdom in 1979 and 1988.
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104. Mr. Loyden : To ask the Chancellor of the Exchequer what was the level of manufacturing investment in the United Kingdom in 1979 and 1988.
Mr. Major : The level of manufacturing investment in the United Kingdom in 1985 prices was £11,157 million in 1979 and £11,586 million in 1988.
Corporation Tax
24. Mr. Gill : To ask the Chancellor of the Exchequer what proportion of the total amount raised by corporation tax came from private companies, and what was the amount for the most recently available fiscal year.
Mr. Norman Lamont : I regret that information is not available about the amount of corporation tax paid by private companies. Broadly speaking, the largest 1,000 companies and building societies account for roughly three quarters of the corporation tax collected. The estimated total yield for 1988-89 was £18.4 billion.
Excise Duties
25. Dr. Godman : To ask the Chancellor of the Exchequer what is the estimated reduction in inflation caused by a decision not to index excise duties.
Mr. Brooke : The estimated reduction in inflation in 1989-90 is around half a per cent.
66. Mr. Dunnachie : To ask the Chancellor of the Exchequer what is the estimated reduction in inflation caused by a decision not to index excise duties.
77. Mr. Doran : To ask the Chancellor of the Exchequer what is the estimated reduction in inflation caused by a decision not to index excise duties.
124. Mr. Graham : To ask the Chancellor of the Exchequer what is the estimated reduction in inflation caused by a decision not to index excise duties.
Mr. Lilley : Indexation of excise duties would have increased the RPI by nearly half a per cent.
Investment (GDP)
26. Mr. Turner : To ask the Chancellor of the Exchequer how many countries in the EEC spend a greater proportion of their gross domestic product on investment than the United Kingdom.
35. Mr. Morley : To ask the Chancellor of the Exchequer how many countries in the European Economic Community spend a greater proportion of their gross domestic product on investment than the United Kingdom.
72. Mr. Buckley : To ask the Chancellor of the Exchequer how many countries in the European Economic Community spend a greater proportion of their gross domestic product on investment than the United Kingdom.
92. Mr. Meale : To ask the Chancellor of the Exchequer how many countries in the European Economic Community spend a greater proportion of their gross domestic product on investment than the United Kingdom.
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Mr. Brooke : On the basis of estimates for 1987, eight.
Balance of Payments
27. Mr. Wall : To ask the Chancellor of the Exchequer if he will forecast the balance of payments in each year until 1992.
34. Ms. Abbott : To ask the Chancellor of the Exchequer if he will forecast the balance of payments in each year until 1992.
57. Mr. O'Brien : To ask the Chancellor of the Exchequer if he will forecast the balance of payments in each year until 1992.
63. Mrs. Mahon : To ask the Chancellor of the Exchequer if he will forecast the balance of payments in each year until 1992.
Mr. Major : The Financial Statement and Budget Report for 1989-90 provides a forecast for the current account of the balance of payments for 1989 and the first half of 1990. Forecasts for later years are not published.
29. Mr. Win Griffiths : To ask the Chancellor of the Exchequer what was the balance of payments for the first quarter of 1989.
31. Mr. Flynn : To ask the Chancellor of the Exchequer what was the balance of payments for the first quarter of 1989.
Mr. Major : I refer the hon. Members to the reply my right hon. Friend the Financial Secretary gave earlier today to the hon. Member for Clwyd, South-West (Mr. Jones).
110. Mr. Gareth Wardell : To ask the Chancellor of the Exchequer what is his latest forecast for the United Kingdom balance of payments for 1989.
116. Dr. Kim Howells : To ask the Chancellor of the Exchequer what is his latest forecast for the United Kingdom balance of payments for 1989.
119. Mr. Rogers : To ask the Chancellor of the Exchequer what is his latest forecast for the United Kingdom balance of payments for 1989.
Mr. Major : I refer the hon. Members to the reply I gave to the hon. Member for Cardiff, West (Mr. Morgan) on 6 June.
Tax Harmonisation
28. Mr. Ted Garrett : To ask the Chancellor of the Exchequer what recent submissions he has received on the tax harmonisation.
93. Mr. Clelland : To ask the Chancellor of the Exchequer, what recent submissions he has received on tax harmonisation.
95. Mr. Cummings : To ask the Chancellor of the Exchequer what recent submissions he has received on tax harmonisation.
Mr. Lilley : My ministerial colleagues and I have received a number of submissions from a variety of sources.
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Foreign Investment
32. Mr. Battle : To ask the Chancellor of the Exchequer what was the net flow of foreign direct and portfolio investment into the United Kingdom in 1988.
Mr. Major : Direct and portfolio investment in the United Kingdom by overseas residents (net of disinvestment) is provisionally estimated at £11.2 billion in 1988.
Workplace Nurseries
14. Mr. Martlew : To ask the Chancellor of the Exchequer if he will make a statement on his policy in relation to the tax on workplace nurseries.
17. Mr. Jack Thompson : To ask the Chancellor of the Exchequer if he will make a statement on his policy in relation to the tax on workplace nurseries.
Mr. Steinberg : To ask the Chancellor of the Exchequer if he will make a statement on his policy in relation to the tax on workplace nurseries.
Mr. Norman Lamont : There is no special tax on workplace nurseries. A subsidised place in a workplace nursery is a benefit in kind and benefits in kind are subject to income tax.
Mr. Vaz : To ask the Chancellor of the Exchequer if he will make a statement on his policy towards the tax treatment of workplace nurseries.
Mr. Norman Lamont : In principle, employees should pay income tax on the whole of their earnings whether received in cash or in kind. A subsidised place in a workplace nursery is a benefit in kind and any subsidy is a proper subject for tax.
Government Debt
53. Mr. Gow : To ask the Chancellor of the Exchequer what is the latest estimate of the interest payable on Government debt during the current financial year, and what was the comparable figure, adjusted for inflation, for the year ended 31 March 1979.
Mr. Lilley : The latest forecast of general Government gross debt interest payments in 1989-90 is £17.1 billion as published in the 1989 Financial Statement and Budget Report. In 1987-88 prices, general Government gross debt interest is £15.1 billion in both 1978-79 and 1989-90. As a percentage of GDP, general Government gross debt interests is 4 per cent. in 1978-79 and 3 per cent. in 1989-90.
Interest Rates
18. Mr. Cryer : To ask the Chancellor of the Exchequer if he will make a statement on the impact of current level of interest rates on the development of manufacturing industry.
Mr. Major : Manufacturing investment reached a record level in 1988 and the outlook is for continued strong growth.
55. Mr. Knox : To ask the Chancellor of the Exchequer if he will make a statement about the current level of interest rates.
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Mr. Lilley : Bank base rates are 14 per cent.
98. Mr. Darling : To ask the Chancellor of the Exchequer what are the current interest rates in (a) the United Kingdom, and (b) the rest of the G7.
Mr. Lilley : I refer the hon. Member to the answer my right hon. Friend the Chancellor gave earlier today to the hon. Member for Monklands, West (Mr. Clarke).
117. Mr. Tony Lloyd : To ask the Chancellor of the Exchequer what is his policy in respect of establishing stable interest rates.
Mr. Lilley : Interest rates are set at the appropriate level to maintain downward pressure on inflation.
Tax and Prices Index
19. Mr. Nigel Griffiths : To ask the Chancellor of the Exchequer what is the most recent estimate for the tax and prices index.
37. Mr. Bell : To ask the Chancellor of the Exchequer what is the most recent estimate for the tax and prices index.
127. Mr. McAllion : To ask the Chancellor of the Exchequer what is the most recent estimate for the tax and prices index.
Mr. Brooke : The tax and prices index increased by 8.3 per cent. over the year to April.
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