HC Deb 01 April 1974 vol 871 cc1016-7

Motion made, and Question, That the following alterations shall be made in Chapter II of Part I of the Income and Corporation Taxes Act 1970—

  1. (a) in section 8 (married and single relief)—
    1. (i) in subsection (a) (married) for £775 there shall be substituted £865;
    2. (ii) in subsection (1)(b) (single) for £595 there shall be substituted £625; and
    3. (iii) in subsection (2) (wife's earned income) for £595 there shall be substituted £625;
  2. (b) in section 10(3) (appropriate amount for child)—
    1. (i) for £265 (child over 16) there shall be substituted £305;
    2. (ii) for £235 (child over 11 but not over 16) there shall be substituted £275; and
    3. (iii) for £200 (child not over 11) there shall be substituted £240;
  3. (c) in (section 7 relief for persons over 65 with small incomes)—
    1. (i) for the references to £700 and £1,000 (income limits for exemption) there shall be substituted references to £810 and £1,170; and
    2. (ii) for the reference to £340 (the excess over those limits beyond which relief by 1017 reduction of tax is excluded) there shall be substituted a reference to £565; and
    3. (iii) for the reference to 50 per cent. (the percentage governing relief by reduction of tax) there shall be substituted a reference to 55 per cent.; and
  4. (d) in section 24 (reduction on account of family allowances) for £60 there shall be substituted £52;
but this Resolution shall not require any change to be made in the amounts deductible or repayable under section 204 of that Act (pay as you earn) before 20th July 1974. And it is hereby declared that it is expedient in the public interest that this Resolution should have statutory effect under the provisions of the Provisional Collection of Taxes Act 1968.—[Mr. Healey.]

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