HC Deb 27 March 1972 vol 834 cc173-4

Motion made, and Question,

That income tax for the year 1973–74 shall be charged at the basic rate of 30 per cent.; and—

  1. (a) in respect of so much of an individual's total income as exceeds £5,000 at such higher rates as are specified in the Table below; and
  2. (b) in respect of so much of the investment income included in an individual's total income as exceeds £2,000 at the additional rate of 15 per cent.

Part of excess over £5,000 Higher rate
The first £1,000 40 per cent.
The next £1,000 45 per cent.
The next £1,000 50 per cent.
The next £2,000 55 per cent.
The next £2,000 60 per cent.
The next £3,000 65 per cent.
The next £5,000 70 per cent.
The remainder 75 per cent.
—[Mr. Barber.]

put forthwith pursuant to Standing Order No. 94 (Ways and Means Motions), and agreed to.