§ Mr. Rooker
asked the Chancellor of the Exchequer (1) if he will estimate the size of the cut in the standard rate of income tax to the nearest 0.1p which would be required in 1983–84 and in 1984–85 to reduce the total tax payments, income tax, national insurance contributions, indirect taxes, less child benefit where appropriate, for those on three quarters, 100 and 150 per cent. of national average earnings for single people, married couples, and married couples with two-child families in each case to the same sum of money in constant prices as in 1978–79;
(2) if he will estimate the size of the cut in the standard rate of income tax to the nearest 0.1p now required to reduce the total tax payments, income tax, national insurance contributions, indirect taxes, less child benefit where applicable, for those on three quarters, 100 and 150 per cent. of national average earnings for single people, married couples, and married couples with two children families in each case to the same proportion of gross earnings as in 1978–79.
§ Mr. Moore
[pursuant to his reply, 8 February 1984, c. 601]: Estimates for 1983–84 are given below. Figures for 1984–85 cannot be given in advance of the Budget. It
Assets of United Kingdom companies
(£ billion, market value)
Financial companies and institutions Industrial and commercial companies Monetary sector Other financial institutions* Total Total End-1980 Tangible assets 7.4 31.4 38.8 254.9 293.7 Gross financial assets 313.4 176.3 489.7 114.1 603.8 End-1981 Tangible assets † † 43.0 270.8 313.8 Gross financial assets 423.8 199.1 622.9 138.1 761.0 End-1982 Tangible assets † † 46.8 281.3 328.1 Gross financial assets 540.4 238.4 778.8 157.2 936.0 * Includes certain institutions (such as building societies) which are not companies under the terms of the companies acts. † Liabilities (excluding reserves) of "other financial institutions" and industrial and commercial companies, analysed by type of financing, are published in Financial Statistics, Supplementary Table S15 (last included in the December 1983 issue). A corresponding analysis for the monetary sector and further analyses by category of owner are not available.
§ Mr. Norman Atkinson
asked the Chancellor of the Exchequer if he will set out in tabular form and by category of owner what beneficial shareholding each has by percentage shares held in British companies compared with 1975, breaking down, if possible, the category listed as nominees.746W
is assumed that the man pays national insurance contributions at the not contracted-out rate; and that he has no tax allowances other than his personal allowance and, for 1978–79, child tax allowances (for two children under 11), where applicable.
Reducing the basic rate so as to restore tax payments in real terms to 1978–79 levels would add a further 5 per cent. to the 5 per cent. increase in real take-home income that households on these multiples of average earnings have experienced since 1978–79.
Reduction in basic rate necessary in 1983–84 to restore tax payments to their 1978–79 levels At percentage of average earnings Single Married Married +2 (a) In real terms 75 8.6 6.8 7.8 100 7.2 6.6 6.8 150 6.2 6.8 6.3 (b) As a percentage of gross earnings 75 4.3 1.5 3.6 100 3.1 2.1 2.9 150 2.4 2.8 2.7