§ Mrs. Chalker
asked the Chancellor of the Exchequer if he will publish in the 437W Official Report in two percentage figures the effective marginal rate of taxation for a single retired woman aged 60 to 64 years inclusive and a single retired man aged 65 to 69 years inclusive whose sole sources of weekly income apart from the national insurance retirement pension is employment income of (a) £35 to £39 and (b) £39 to £50, taking into account the loss of income arising out of the earnings rule as well as the rate of income tax.438W
§ Mr. Robert Sheldon,
pursuant to his reply [Official Report, 8th April 1976; Vol. 909, c. 312–13], gave the following information:
The increase in gross income resulting from an additional £1 of weekly earnings within the ranges specified would be reduced in either case by (a) 67.5 per cent, and (b) 100 per cent, respectively. The latter figure is accounted for wholly by the reduction in retirement pension under the earnings rule.