§ Mr. Ian Lloydasked the Chancellor of the Exchequer how many taxpayers are now paying income tax at the standard rate on at least £250, £500 and £1,000 of their gross taxable income, respectively.
§ Mr. TaverneAbout 8⅓, 3¾ and 1¼ millions respectively.
§ Mr. Ian Lloydasked the Chancellor of the Exchequer how many taxpayers will be paying tax at the standard rate on £250, £500 and £1,000 of their incomes, respectively, assuming a continuation of the current rate of inflation between 31st December, 1964, and 30th October, 1969, no change in taxation and a distribution of income increases before tax similar to that which has occurred in the same period, in the years 1970, 1975 and 1980.
§ Mr. TaverneAssuming that money incomes continue to increase at the average annual rate at which they have between December, 1964 and September, 1969, the estimated numbers are as follows:
Millions Liable at Standard rate on at least 1970–71 1975–76 1980–81 £ 250 … … 10 17 22 500 … … 4½ 12 18 1,000 … … 1½ 4½ 11 These estimates are subject to a wide margin of error.
§ Mr. Ian Lloydasked the Chancellor of the Exchequer how many taxpayers are now paying surtax on at least £250, £500 and £1,000 of their gross taxable incomes, respectively.
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§ Mr. TaverneTaking 1968/69 surtax payable on 1st January, 1970, the figures are about 405,000, 330,000 and 240,000 respectively.
§ Mr. Ian Lloydasked the Chancellor of the Exchequer how many taxpayers will be paying surtax on at least £250, £500 and £1,000 of their incomes, respectively, assuming a continuation of the rate of inflation between 31st December, 1964 and 30th October, 1969, no change in taxation and a distribution of income increases before tax similar to that which occurred in the same period, in the years 1970, 1975 and 1980.
§ Mr. TaverneFor 1969–70 surtax payable on 1st January, 1971, about 430,000, 350,000 and 260,000 respectively. I regret that estimates for 1975 and 1980 cannot be made without a disproportionate expenditure of time and effort.