HC Deb 06 March 1958 vol 583 cc1327-8
38. Mr. Lipton

asked the Chancellor of the Exchequer whether he will restore the lower rates of Income Tax to what they were in 1955–56.

Mr. Simon

The lower rates of Income Tax at present in force are the same as those for 1955–56.

Mr. Lipton

Is the Financial Secretary aware that the old rate on the first £100 was 2s. 6d., on the next £150 it was 5s., and on the next £150 it was 7s., whereas now on the first £60 it is 2s. 3d., on the next £150 it is 4s. 9d., and on the next £150 it is 6s. 9d.? Is he therefore aware that under the present rates a single person or a widow with a taxable income of £250 is paying £5 17s. 6d. a year more than was required before, and does not that make many small taxpayers think they were swindled by what was held out to be a cut in the tax rates in the 1955–56 Budget?

Mr. Simon

The hon. Gentleman is quite wrong. The figures he has just quoted were in force in 1954–55, not 1955–56, and they were reduced in that year.

Mr. Lipton

In view of the unsatisfactory nature of the reply, I beg to give notice that I shall raise this matter on the Adjournment.