§ 4. Mr. Moateasked the Chancellor of the Exchequer what was the tax liability of a couple aged over 65 years whose sole income was a pension of £900 per annum, in the years 1968–69, and 1969–70; and what is the figure for the year 1972–73.
§ The Chief Secretary to the Treasury (Mr. Patrick Jenkin)In 1968–69, the couple paid £104.75 income tax. In 1969–70, they paid £99.00. They will pay no tax at all in 1972–73.
§ Mr. MoateDoes my hon. Friend agree that the total relief from tax of a 1202 large number of pensioners represents a major social achievement, which has been widely welcomed by large numbers of people? About how many pensioners will benefit from the latest Budget measures?
§ Mr. JenkinI cannot answer that question without notice, because it depends very much on what the pensioners' other income may be, but if my hon. Friend puts down a Question I shall do my best to answer it.
§ Mr. HealeyIs the Minister aware that the value of the tax reductions has been exactly wiped out by the enormous rise in prices over which the Chancellor has presided in the past two years?
§ Mr. JenkinI am aware of nothing of the sort. Prices are rising at half the rate of a year ago, and less than the rate when the right hon. Gentleman's Government were in office.