§ Mr. Hordernasked the Chancellor of the Exchequer by how much all personal allowances and child allowances would have to be increased to compensate for inflation since April 1975; and what would be the cost to the Exchequer.
§ Mr. Robert SheldonThe average index of retail prices rose by 14.6 per cent. between April 1975 and January 1976, the latest available date. To increase all personal and child allowances by this proportion would cost, at 1975–76 income levels and current tax rates, about £1,260 million.