§ 12. Mr. John Hall
asked the Chancellor of the Exchequer what would be the gross earned incomes required today by a married man with two children to equal, after deduction of tax, the purchasing power of gross earned incomes in 1938 of £1,000, £2,000, and £3,000 per annum.
Three thousand, six hundred and twenty-one pounds, £10,208 and £31,961, respectively, if both children are aged under 12.
§ Mr. Hall
Do not these figures show that there is something radically wrong with our system of taxation, which on an income of over £2,000 imposes such a swingeing tax, and would not my right hon. Friend agree that a sliding scale of taxation, which takes no account of inflation, must impose considerable hardship?
I will take note of what my hon. Friend has said, but one thing it emphasises is how right the Government are to be giving the first priority they are giving at present to overcoming inflation.