HC Deb 29 May 1930 vol 239 cc1483-4
80. Mr. JOWETT

asked the Chancellor of the Exchequer the net income, after paying Income Tax and Super-tax, of a person whose gross income, derived from War Loan, was £10,000 in the tax year of 1920 and still remains at that figure, derived from the same source, in the years 1920, 1928, and 1930, respectively, and the value in purchasing power of that net income in the years 1928 and 1930, respectively, as compared with 1920?


My right hon. Friend will find the amount of Income Tax (including Super-tax) payable on an investment income of £10,000 for the years 1920 and 1928 in the 64th and 72nd Annual Reports of the Commissioners of Inland Revenue, and the White Paper explaining the Budget proposals shows the corresponding figure for the year 1930. As regards the measurement of relative purchasing power, I can only refer my right hon. Friend to the cost of living Index published by the Ministry of Labour as measuring the fluctuation in the cost of living of a working-class household.