§ 97. Mr. McKayasked the Chancellor of the Exchequer what was the balance of earned income left after Income Tax in the year 1955 for a single man, a married man, a married man with one child, and a married man with two children, when the earned income in each case was £624.
§ Mr. H. MacmillanThe net income after tax at 1955–56 rates corresponding to a grossed earned income of £624 was £536 for a single man, £570 for a married man, £597 for a married man with one child and £619 for a married man with two children.
§ 98. Mr. McKayasked the Chancellor of the Exchequer the percentage rise of tax-free undistributed profits for companies and public corporations from 1946 to 1955 ; what has been the percentage rise in the weekly earnings of all the workers in the same period; and what has been the rise, in percentage, of all the wage-earner's weekly earnings of those engaged in these companies and public corporations for the same time.
§ Mr. H. MacmillanUndistributed income of companies and public corporations after taxation but before providing for depreciation and stock appreciation increased by 190 per cent. between 1946 and 1955. Over the same period total wages and salaries before tax increased by 105 per cent. and after tax by 111 per cent. Between October, 1946, and October, 1955, average weekly wage earnings (before tax) in manufacturing and certain other industries increased by 85 per cent. Separate figures for the earnings of wage-earners employed by companies and public corporations are not available.