asked the Chancellor of the Exchequer to what levels the main personal allowances would need to be raised now in order to maintain their real value at April 1973; and what these increases would cost in terms of revenue.
§ Robert Sheldon:
On the basis of the change in the retail prices index between April 1973 and September 1977 —the latest date available—the level of the main personal allowances would be as follows:
£ Single and earning wife's allowance 1,199 Married allowance 1,562 Age Allowance—Single 1,411* Age Allowance—Married 2,016* *equivalent to age exemption levels in 1973–74.
The estimated cost of increasing the allowances to these levels, after taking into account the changes for 1977–78 proposed in the Chancellor's statement of 26th October, would be about £1,480 million.
§ Mr. Ovenden
asked the Chancellor of the Exchequer what was the total cash value for each year since 1965–66 of personal tax allowances, child tax allowances, and family allowances or child benefit for a married couple with one, two, three and four children, respectively, paying the standard rate of tax and with only the husband working; and what will be the cash value of such allowances and benefits in 1977–78 and 1978–79 assuming that the current proposals for child benefit increases are implemented and 185W that there are no further charges in tax rates or allowances.
§ Mr. Ovenden
asked the Chancellor of the Exchequer what was the total cash value for each year since 1965–66 of personal tax allowances and wife's earned income allowance for a married couple with no children where both parties were employed and subject to the standard rate of tax; and what will be the corresponding value for the current year.