HC Deb 09 July 1959 vol 608 cc1546-7
22. Mr. Sparks

asked the Chancellor of the Exchequer by what amount Income Tax and Surtax have been reduced for a married man with two children having a gross income of £500, £1,000, £5,000 and £20,000, respectively, in the year 1959–60 as compared with the year 1951–52.

Mr. Simon

As the answer contains a number of figures, I will, with permission, circulate it with the OFFICIAL REPORT.

Mr. Sparks

Will the hon. and learned Gentleman give an assurance that when

THE FOLLOWING TABLE SHOWS BY WHAT AMOUNT INCOME TAX AND SURTAX (IF ANY) HAVE BEEN REDUCED FOR A MARRIED MAN WITH TWO CHILDREN IN THE YEAR 1959–60 COMPARED WITH THE YEAR 1951–52:
£500 £1,000 £5,000 £20,000
Income all earned
£ s. d. £ s. d. £ s. d. £ s. d.
Both children under 11 … … … 13 0 0 89 18 1l 715 14 4 2,323 12 6
Both children 11–16 … … … 13 0 0 105 11 5 746 6 10 2,368 0 0
Both children over 16 … … … 13 0 0 121 3 11 776 19 4 2,412 7 6
Income all investment
Both children under 11 … … … 35 5 0 100 10 0 518 0 0 1,913 0 0
Both children 11–16 … … … 39 12 6 119 17 6 548 12 6 1,957 7 6
Both children over 16 … … … 40 10 0 139 5 0 579 5 0 2,001 15 0

The tax liability on which these figures of difference are based comprises Income Tax for the year in question and Surtax (if any) for the preceding year, payable in the year in question.

EXPRESSED AS A PERCENTAGE OF THE TAX BILL AT 1951 RAIES, THE FIGURES ARE AS FOLLOWS:
£500 £1,000 £5,000 £20,000
Income all earned
Both children under 11 … … … 100 54 29 14½
Both children 11–16 … … … 100 63 30 14¾
Both children over 16 … … … 100 73 31 15
Income all investment
Both children under 11 … … … 88 38½ 19½ 11¼
Both children 11–16 … … … 98 45½ 20½ 12¼
Both children over 16 … … … 100 53 21½ 12¼