§ Mr. FrenchTo ask the Secretary of State for Trade and Industry how many investors on Barlow Clowes have benefited from the scheme he announced on 19 December.
§ Mr. RedwoodBy 28 February, 13,724 cheques had been dispatched by my agents, totalling £145 million. A further 260 claims were being processed and a further 210 investors appear to have been unable to meet the deadline for claims for understandable reasons, such as absence overseas, and their cases will be considered if there is good reason. Of the remaining 66 cases, some would not appear to qualify because they have already assigned their rights in return for payments from others, while others are being investigated further to establish whether they benefited directly or indirectly from the circumstances leading up to the liquidation.
My agents have received assignments of rights from all the investors who are being paid out. My Department will now obtain necessary information from these investors and will be considering all the claims that may be pursued in order to secure the maximum net recovery for the taxpayer.
Marginal deduction rates 1989–90 Working heads of tax units (000s) Great Britain Numbers facing combined rates of over 50 per cent. Tax units Per cent. Families with children Couples and single people Total Individuals (heads, spouse and children) 90 to 99 35 5 40 125 80 to 89 120 10 130 460 70 to 79 150 35 l80 590 60 to 69 * 5 5 15 50 to 59 — — — — Notes:
(i) Marginal deduction rates shown are for heads of tax units in receipt of family credit or housing benefit where at least one partner works 24 hours or more a week. They incorporate the October 1989 National Insurance contribution changes.
(ii) Estimates based on 1985 and 1986 FES data uprated to 1989–90 levels.
(iii) * denotes an estimate of fewer than 2,500.
§ Mr. Chris SmithTo ask the Secretary of State for Social Security how many people face marginal tax rates,both including and excluding social security of(a) over 40