§ 35. Mr. Ronald Bellasked the Chancellor of the Exchequer what is the purchasing power now left in the hands of a man with a wholly earned income of
Gross Income in 1959 Net income after tax at the proposed rates 1951–52 equivalent of gross income Corresponding net income after 1951–52 rates of tax Actual Equivalent purchasing power in 1951 £ £ s. d. £ £ s. d. £ s. d. 2,500 1,952 10 7 1,543 1,975 5 0 1,437 13 0 5,000 3,231 4 4 2,553 3,950 11 0 2,198 6 0 7,500 4,137 12 1 3,269 5,925 17 0 2,747 5 0 The figures are for a married man with two children under 11.
The equivalent purchasing power, and equivalent gross income, in 1951–52, are calculated from the Consumer Price Index, brought up to date by the Retail Price Index.