§ Mr. Ronald Bellasked the Chancellor of the Exchequer at what level of real taxable income, calculated in constant pounds at Budget Day 1975 value, the standard rate and each higher rate of income tax would begin to apply on the basis of the index of retail prices figure published last week.
§ Mr. Robert Sheldon, pursuant to his reply [Official Report, 25th March, gave the following information:
The figures are as follows:
1975–76 TAX THRESHOLDS AT APRIL 1975 PRICES Tax rate Single person Married couple (without children) Percentage £ £ 35 (Basic rate) … 582 823 40 … 4,460 4,702 45 … 4,891 5,132 50 … 5,753 5,994 55 … 6,615 6,856 60 … 7,477 7,718 65 … 9,200 9,442 70 … 10,924 11,165 75 … 13,509 13,742 83 … 17,818 18,060