HC Deb 08 May 1952 vol 500 c52W
48. Major Lloyd

asked the Financial Secretary to the Treasury the value of £2,000 in terms of the value prevailing when this figure was chosen for the level of income at which Surtax begins.

Mr. Boyd-Carpenter

Surtax, then called Super-tax, was charged at £2,000 for 1920–21 for the first time. It is estimated that in March, 1952, £3,000 had approximately the same value in terms of purchasing power as £2,000 had in 1920–21.

Mr. Osborne

asked the Chancellor of the Exchequer the internal purchasing power of the pound sterling to the nearest convenient date, as compared with 20s. in July, 1945.

Sir A. Salter

About 13s. 10d. in March, 1952, as compared with an average of 20s. in 1945.