HC Deb 12 April 1976 vol 909 cc429-30W
Mr. MacGregor

asked the Chancellor of the Exchequer to what level the single and married tax allowances and the different tax allowances should be raised in 1976–77 to maintain their real value, as at the latest available date, compared with the position at April 1975; and what the respective costs of raising these different allowances to the new levels would be.

Mr. Robert Sheldon

On the basis of the increase in the index of retail prices to February 1976, the main personal tax allowances would need to be as shown below in order to preserve their real

Mr. Robert Sheldon

The figures are as follows:

value as at April 1975. The costs shown are the costs of increasing the allowances to the levels shown from their pre-Budget (1975–76) levels.

Allowance New level £ Cost £m.
Single/Wife's earned income 783 490
Married 1,108 645
not over 11 278 190
over 11 and not over 16 319
over 16 354
Age allowance:
Single 1,102 100
Married 1,653
Additional personal allowance 325 5

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