Wages and Salaries

HC Deb 06 August 1975 vol 897 cc219-20W

Mr. Atkinson

asked the Chancellor of the Exchequer what figure he anticipates to be the total income from wages and salaries for the year 1975–76 upon which he has based his taxes on income estimates 1975–76, Table 13, Financial Statement and Budget Report.

Mr. Dell

It is not customary to publish details of the forecasts in the Financial Statement and Budget Report.

Mr. Atkinson

asked the Chancellor of the Exchequer by how much total income from wages and salaries would have to rise to equate the amount necessary to maintain living standards over the year August to August 1975–76 assuming a reduction of the rise in the retail price index from 26 per cent. per annum in August 1975 to 10 per cent. by August 1976.

Mr. Dell

On the assumption in the Question that the retail price index rises by 10 per cent. between August 1975 and August 1976, it would be necessary for pay to increase by 10 per cent. over the same period to maintain living standards on the assumption that the ratio of net to gross pay remains the same.