HC Deb 21 December 1971 vol 828 cc297-8W
Mr. Arthur Lewis

asked the Chancellor of the Exchequer whether he will publish in the OFFICIAL REPORT a table of figures giving the net return to a single man after payment of normal taxation receiving a salary of £14,000 per annum of which £4,000 is tax free, £20,000 of which £5,000 is tax free, and what a capital sum of £37,000 to such a person would be worth if normal taxation were paid thereon, if no tax were paid and if capital gains tax were levied.

Mr. Patrick Jenkin

The net amounts after tax are as follows:

Salary of £14,000 Salary of £20,000
£ £
Net income from salary 10,088 12,914
Net addition if the extra £37,000 were treated as:
(a) earned income 9,877 9,279
(b) investment income 4,951 4,353
(c) not taxable 37,000 37,000
(d) a realised capital gain 25,900 25,900