§ Mr. Lawson
asked the Chancellor of the Exchequer if he will republish the table contained in the Written Answer to the hon. Member for Blaby—Official Report, 8th May, columns 359–60—so as to include an additional column showing the percentage paid in tax and national insurance contributions of the
1977–78 1978–79 Income (including child benefit) Percentage paid in tax and national insurance contributions Income (including child benefit) Percentage paid in tax and national insurance contributions on the basis of the Budget proposals Percentage paid in tax and national insurance contributions with basic rate of 33 per cent. and higher-rate thresholds increased by £1,000 £ £ 3,130 18.3 3,568 19.0 18.8 4,130 23.5 4,668 24.1 23.7 5,130 26.7 5,768 27.2 26.7 6,130 28.3 6,868 29.0 28.4 7,130 29.1 7,968 29.7 29.0 8,130 29.8 9,068 30.3 29.5 9,130 31.0 10,168 31.4 30.0 10,130 32.5 11,268 32.8 31.1
§ Mr. Denzil Davies
Available information, derived from standardised data published by the OECD, is given in the table below. Comparable figures for 1977 are not yet available. Standardised information about the distribution of fixed capital formation by type of asset is at present available only from an earlier volume of OECD statistics which contains figures up to 1975. As estimates of GDP have been revised since the publication of that volume, the estimates of expenditure on machinery and equipment have been shown below as a percentage of total gross domestic fixed capital formation.
relevant 1978–79 incomes on the assumption that the basic rate of income tax is 33 per cent., and the basic rate band extended by £1,000 to £7,250 of taxable income.
§ Mr. Robert Sheldon
, pursuant to his reply [Official Report, 22nd May 1978], gave the following information:
The figures are as follows:555W
The figures are based on the same assumptions as in the earlier answer to which the hon. Member refers, except that in the last column the basic rate has been assumed to be 33 per cent., the basic rate band extended by £1,000, and the starting point of all higher-rate bands increased by £1,000.