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CST
FST
MST(C)
MST(L)
Mr. Ridley
Mr. Cropper
1. 1981-82 PSBR
as % of GDP (Ind.Act
4.2%)
3.6%
2. Revenue
(i) Ranking of sources of addle rev.
Personal taxes up £2b, company taxes down £~b
5 <sCR.GT
(ii) Increase sp e c if i c d uti e s > RPI?
Inc. in RPI plus one third
(iii) Less than full indexation of income tax thresholds?
Uniform deindexation "up to one quart er" Similarly CB
(iv) Uniform (v) Other treatment for ideas all thresholds?
Yes VAT block ing for petrol. Ip rise i r.T. not excluded
3% plus 1. Bank profits 3 = more than 3 = less than full . Yes See (i) adjustment to allow full reval. reval. for lower demand 2 . VAT on imports (up to extra 1%) than in FSBR (see across)
Not : lower than 1980-81
1. Excise duties ~. Car tax, VED
"'--Itt (/'{I1IAf- ft\ VIff
4~% (same in money terms
as 1980-81)
As FST, and less than Ind.Act forecast
2.4%
specific duties
Income tax, Banks, perks, mortgage relief
Income tax
Yes
Yes
Can't decide yet
No
Preferably not
Preferably not
Can't decide yet
No, but extra 5p on all rates
Yes
Yes
Yes
Yes
Narrow VA zero ratin In extremis, 2% 0
VAT
VAT block ing for petrol Higher NI on s erv5ce:;
None
CST
FST
MST(C)
MST(L)
~ v
~
Mr. Ridley
Mr. Cropper
3. How far should we try to offset transfer of resources away from companies
Reduction in heavy oil duty. Lower energy prices. Lower NIS on young employees Enterprise package
Find up to £lb to help companies
Yes, if possible, but doubts practicability
Temporary steps only. Reduce interest rates. Lower energy prices
No
4. Tax reductions
(i) . for private sector as a whole, or more limited?
Corporate sector only
Abolish heavy oil duty Enterprise package
Heavy oil duty NIS
Indexation of capital taxes
Fuel oil duty NIS on manufacturing Devices to encourage issue of debentures
None
1(,\
(i~) Other ideas
,No tax on banks
Abolish earnings rule Ent0rprise trusts. Progress on techniques of monetary and public expo control
