HC Deb 31 March 1971 vol 814 cc398-9W
156. Mr. J. H. Osborn

asked the Chancellor of the Exchequer (1) of the total income, from the national wealth not in public ownership, if he will tabulate the value and percentage, both directly and indirectly, going to 10 per cent., 25 per cent., 50 per cent. and 75 per cent. of the population; and how this differs from the position on 1st April, 1970, 1965, 1960, 1955, 1950 and 1945 respectively;

(2) of the total income from the national wealth, not in public ownership, if he will tabulate the number of people and percentage, both directly and indirectly, receiving 10 per cent., 25 per cent., 50 per cent., and 75 per cent.; and how this differs from the position on 1st April, 1970, 1965, 1960, 1955, 1950 and 1945 respectively;

Mr. Patrick Jenkin

Below is a table containing such information as is available. Information is only available on the basis of income tax units—which treat married couples as one—with incomes above the exemption limits for the relevant years, and for net investment income as defined for tax purposes.

Numbers with net investment income
1954–55 1959–60 1964–65 1968–69
Percentage of total net investment income '000 per cent. '000 per cent. '000 per cent. '000 per cent.
10 … … … 6 0.15 7 0.17 7 0.17 8 0.17
25 … … … 34 0.62 37 0.97 36 0.91 44 0.97
50 … … … 164 2.99 158 4.10 163 4.14 212 4.62
75 … … … 584 10.66 532 13.85 475 12.05 631 13.75
Total numbers with investment income … … … 5,473 100 3,841 100 3,944 100 4,589 100
Note: The figures for 1954–55 and 1959–60 include the imputed Schedule A income of owner occupiers which was exempted in 1963. The figures for 1954–55 also include the first £15 of interest on Post Office Savings Bank and Trustee Savings Bank ordinary accounts which was exempted from income tax in 1956.