§ 39. Mr. Hardyasked the Chancellor of the Exchequer what is his estimate of the actual cash benefit from the reduction in income tax in the Finance Act 1979 for a married man on current average earnings with two children at school in 1979–80.
§ Mr. Peter ReesA married man with two children under 11 currently on the average earnings level of October 1979 is £4.34 a week better off as a result of the reduction in income tax and increase in child benefit compared with his position a year ago at the same earnings level. The estimate for October 1979 is the most recent available.
The tax change is the combined effect of the Finance Act 1979 and the Finance (No. 2) Act 1979, together with the final stage of the abolition of child tax allowances. The two child benefit figures included in the calculation are the £6 per week—for two children—received a year ago and the £8 per week received at present.
§ 49. Mr. Marlowasked the Chancellor the Exchequer if he will make a statement on the tax position of families.
§ Mr. Peter ReesMy right hon. and learned Friend the Chancellor will be considering the impact of tax on families in preparing his Budget.