§ Mr. MeacherTo ask the Chancellor of the Exchequer if he will set out the average individual cumulative gain in 1992 prices to those with incomes(a) under £5,000 a year, (b) £5,000–10,000, (c) £10,000–15,000, (d) £15,000–20,000, (e) £20,000–25,000, (f) £25,000–30,000, (g) £30,000–40,000, (h) £40,000–50,000, (i) £50,000–60,000, (j) £60,000–70,000, (k) £70,000–80,000 and (l) over £80,000 per year (i) as a result of the Budget on 10 March and (ii) cumulatively as a result of all Budgets since 1979.
§ Mr. MaudeEstimates of liability to income tax compared with statutory indexation and with an indexed 1978–79 regime are given in the table. The 1978–79 and 1991–92 income tax regimes have been indexed to 1992–93 level by reference to the statutory formula, and allowing for independent taxation.
Range of individuals income in 1992–93 £ Average gain (+)/loss (-) in income tax in 1992–93 £ Compared with 1991–92 indexed regime Compared with 1978–79 indexed regime Under 5,000 40 200 5,000–10,000 90 420 10,000–15,000 90 730 15,000–20,000 90 1,060 20,000–25,000 90 1,430 25,000–30,000 70 1,830 30,000–40,000 -70 2,230 40,000–50,000 -90 3,570 50,000–60,000 -90 6,010 60,000–70,000 -90 9,830 70,000–80,000 -90 13,200 over 80,000 -90 45,800 Average 70 1,240 For the purpose of the calculation in the second column of the table, the indexed regime of 1978–79 has been applied directly to the income base of 1991–92. In practice, retention of the 1978–79 regime, indexed as appropriate, for the intervening years would have led to changes in the income base.