§ 52. Sir T. Beamishasked the Chancellor of the Exchequer what gross salary is required in this financial year by a married man with no tax reliefs other than earned income allowance and no other sources of income, to yield a net income equivalent to £10,000 subject to tax added to £5,250 tax-free; and if he will provide comparable figures for the financial years 1950–51, 1963–64, and 1965–66.
§ Mr. William RodgersThis depends on the extent to which the £5,250 is covered by allowable Schedule E expenses.
§ Mr. Longdenasked the Chancellor of the Exchequer what estimate he has made of the extra net income per week to be received by each person whose present net income is less than £2,000 per annum on the basis that all personal incomes in excess of £2,000 were redistributed equally among those with incomes below that level.
§ Mr. TaverneTable 64 of the 111th Annual Report of the Inland Revenue shows that the aggregate net income in excess of £2,000 each of all those whose net income after tax was more than £2,000 for 1966–67 was £757 million. If this excess had been distributed equally among the 21,047,000 net incomes between £275 and £2,000 as given in the table the amount per income would have been about £36 a year or 14s. Od. a week before payment of tax. The number of 235W incomes below £275 is not known but to extend the distribution to them would give a substantially lower average payment.