Taxation (Hansard, 16 March 1990)

§ Mr. Redmond
To ask the Chancellor of the Exchequer if he will introduce legislation to allow United Kingdom shipping companies whose employees work on vessels registered in the United Kingdom to be exempt from paying income tax and national insurance contributions; and if he will make a statement.

§ Mr. Lilley
I cannot anticipate the Budget statement.

§ Mr. Denzil Davies
To ask the Chancellor of the Exchequer what percentage of the earnings of a married man in the present fiscal year, assuming a mortgage of £30,000 and a mortgage interest rate of 14 per cent., would be paid in income tax and national insurance payments if his earnings were(a) £15,000, (b) £20,000, (c) £25,000, (d) £50,000, (e) £100,000 and (f) £250,000.

§ Mr. Major
The information is in the table:

Percentage of earnings paid in income lax and national insurance contributions¹ by married man² at 1989–90 levels of income

Earnings per cent.

£ per annum

15,000 16.1

20,000 20.6

25,000 21.9

50,000 29.7

100,000 34.8

250,000 37.9

¹ Based on the post-October 1989 rates.

² Calculations assume that the married man has no other forms of income and that he does not receive any tax allowances or reliefs other than mortgage interest relief of £4,200 per annum—the interest paid on his £30,000 mortgage at a rate of 14 per cent.—and the married man's allowance.

Percentage of earnings paid in income lax and national insurance contributions¹ by married man² at 1989–90 levels of income
Earnings	per cent.
£ per annum
15,000	16.1
20,000	20.6
25,000	21.9
50,000	29.7
100,000	34.8
250,000	37.9
¹ Based on the post-October 1989 rates.
² Calculations assume that the married man has no other forms of income and that he does not receive any tax allowances or reliefs other than mortgage interest relief of £4,200 per annum—the interest paid on his £30,000 mortgage at a rate of 14 per cent.—and the married man's allowance.