§ 4. Mr. McKayasked the Chancellor of the Exchequer what was the balance of income left after Income Tax and Surtax to a single man, a married man, and a married man with two children on incomes of £180 in 1938, £314 in 1946, £359 in 1948, and £580 in 1955–56.
§ Mr. H. Macmillanas the reply contains a number of figures, I will, with permission, circulate it in the OFFICIAL REPORT.
§ Following is the Reply :
Year | Gross income | Net income after tax | ||
Single Man | Married Man | Married man with two children | ||
£ | £ | £ | £ | |
1938 | 180 | 176 | 180 | 180 |
1946 | 314 | 266 | 293 | 314 |
1948 | 359 | 313 | 334 | 359 |
1955 | 580 | 504 | 537 | 579 |
§ The figures in this table are on the assumption that the income is all earned and that the rates of tax are those applicable for 1938–39, 1946–47, 1948–49 and 1955–56, respectively.