§ Mr. Tim Smith
asked the Chancellor of the Exchequer what is the current remuneration figure for higher-paid employment for the purposes of section 69 of the Finance Act 1976; when and by how much this limit has been increased under either these provisions or predecessor powers; what was the limit originally fixed; and by how much this figure would have increased to date if it had been index-linked.602W
§ Mr. Moore
The current figure of £8,500 has applied since 6 April 1979. The original figure under earlier legislation introduced in 1948 was £2,000. This was subsequently increased to £5,000 (from 6 April 1975) and to £7,500 (from 6 April 1978). If the original figure of £2,000 had been index-linked by reference to the retail price index its current level would be in the region of £21,500.