§ 29. Mr. Cormackasked the Chancellor of the Exchequer whether, having regard to his intention to introduce a wealth tax, he will define wealth.
686Wweek; what was the equivalent of that income allowing for inflation, two years ago, five years ago and 10 years ago; and how much tax would have been paid in each of those years;
(2) how much tax is currently paid annually by a single person aged 65 years or over on an income of £30 a week; what was the equivalent of that income allowing for inflation two years ago, five years ago and 10 years ago; and how much tax would have been paid in each of those years;
(3) how much tax is paid annually by a married couple aged over 65 years on an income of £40 a week; what was the equivalent of that income allowing for inflation two years ago, five years ago and 10 years ago; and how much tax would have been paid in each of those years.
§ Mr. Robert SheldonThe figures are as follows:
§ Mr. HealeyBroadly as in paragraph 26 of the Green Paper on the Wealth Tax; but the precise definition will be a matter for the Government to consider nearer the time the tax is introduced. In reaching their decision the Government will bear in mind the views of the Select Committee.