
1 
This Order may be cited as the Income Tax (Reduced and Composite Rate) Order 1987 and shall come into force on 6th April 1988.
2 
The Treasury hereby determine that the rate which, under the provisions of the said section 26, shall for the year 1988—89 be the reduced rate (for building societies) and the composite rate (for deposit-takers) shall be 23.25 per cent.
Mark Lennox-Boyd
Tony Durant
Two of the Lords Commissioners of Her Majesty’s Treasury
1st December 1987