§ Mr. Meacherasked the Chancellor of the Exchequer what was the tax threshold, both before and after the Budget statement of 21st March, for, respectively, a single person, a married couple without children, and a married couple with, respectively, one, two, three and four children, all the children being aged under 11 years.
§ Mr. NottThe tax threshold for persons with wholly earned income for the years 1971–72 and 1972–73 are as follows:
£ per annum 1971–72 1972–73 Single 418 592 Married couple no children 598 772 Married couple with 1 child under 11 798 971 Married couple with 2 children under 11 943 1,117 Married couple with 3 children under 11 1,088 1,262 Married couple with 4 children under 11 1,234 1,407 Note:
The above figures include FAM where applicable and take account of the corresponding clawback.
§ Mr. Meacherasked the Chancellor of the Exchequer what percentage of the current average national wage is now represented by the tax threshold for a married man with two children aged under 11 years.
§ Sir G. Nabarroasked the Chancellor of the Exchequer whereas there are approximately 7.5 million retirement pensioners or senior citizens, in Great Britain, 25W how many are assessed to personal taxation in 1972–73; how many assessments are for married couples, and how many for single persons; and what is his estimate of the cost to revenue of raising in a full year the income tax threshold, respectively, from £929 to £1,000 for couples and from £634 to £675 for single pensioners.
§ Mr. NottThe estimated numbers of retirement pensioners in the United Kingdom liable to tax for 1972–73 are 750,000 married couples and 1 million single persons. The estimated cost of raising the limits for age exemption as indicated is £8 million for the full year assuming that the marginal fraction was unaltered.