§ Mr. David Watkinsasked the Chancellor of the Exchequer if he will publish statistics relating to the distribution of personal incomes below the income tax level.
§ Mr. Robert SheldonStatistics relating to the distribution of personal incomes for 1972–73 in ranges £0–595, £595–740, £750–1,000, etc., will be published in the 1975 issue of the National Income Blue Book.
§ Mr. David Watkinsasked the Chancellor of the Exchequer how many people are currently estimated not to be paying income tax because their incomes are too low.
§ Mr. Denzil DaviesInformation on which to make a firm estimate is not available. However, it is thought that the number of persons aged 16 and over who are not liable to tax on their income, whether because it is insufficient or because it consists of a non-taxable benefit, is of the order of 6½ million, counting married couples as one.
§ Mr. Critchleyasked the Chancellor of the Exchequer, given an annual rate of inflation of 25 per cent., and the present rate of direct taxation, what would be the gross earnings necessary for a man with two children to have an income of £6,000 net a year in 1976, 1977, 1978 and 1979.
§ Mr. Denzil DaviesAssuming that the man has a net income of £6,000 for 1976–76 the gross earnings required to maintain this value in real terms are as follows:
491W
Year Gross Earnings (£) 1976–77 … … … 13,558 1977–78 … … … 20,486 1978–79 … … … 33,823 1979–80 … … … 51,053 For the purposes of the calculations it has been assumed that net income is earnings plus family allowances, less tax and national insurance contributions; that both children are under 11 throughout; that family allowances and clawback remain as in 1975–76; and that family allowance is claimed only where it is to the taxpayer's advantage.
NATIONALISED INDUSTRIES Capital Debt and Revenue Deficits Written off £ million 31st December 1962 … … British Transport Commission … … … 487.4 31st March 1965 … … National Coal Board … … … 415.0* 31st March 1965 … … British Overseas Airways Corporation … … … 110.0† 31st March 1965 … … British European Airways … … … 25.0 31st December 1968 … … British Railways Board … … … 1,262.1‡ 31st December 1968 … … British Waterways Board … … … 15.5 1st January 1970 … … London Transport Board … … … 269.8 1st April 1972 … … British Steel Corporation … … … 350.0§ 16th March 1973 … … Post Office … … … 130.6 31st March 1973 … … National Coal Board … … … 450.0║ 17th August 1973 … … Post Office … … … 46.8 1st January 1975 … … British Railways Board … … … 189.0
Notes * Includes £90.8 million in respect of accumulated revenue losses at March 1965 and £24.8 million provision for revenue losses in the year ended March 1966. † Including £30 million reconstituted as a reserve, which has since been capitalised as public dividend capital. ‡ Including £705 million debt suspended under the Transport Act 1962 and finally written off under under the Transport Act 1968. § This amount was transferred to reserves under the Iron and Steel Act 1972: against this £118 million had been written off by 31st March 1973. ║ Includes £175 million in respect of accumulated revenue losses to March 1973.