§ 82. Mr. Sheldonasked the Chancellor of the Exchequer what estimate he has made of the loss of revenue which would result from increasing the single personal allowance to £480, £500 and £520 and the married allowance to £620, £640, and £660; and how much of these losses of revenue would be attributable to those with incomes in excess of £2,000.
§ Mr. NottThe full year costs of each change taken separately are:
Increase in single person's allowance and wife's earned income relief to Increase in married persons allowance to £ £m. £ £m. 480 70 620 100 500 140 640 195 520 205 660 290 For single people about 13½ per cent. of the benefit in each case goes to those with incomes above £2,000. For married couples taken as one unit about 52 per cent. of the benefit from raising the married allowance and the wife's earned income relief by the same amounts goes to those whose joint income is above £2,000 in each case. If all allowances were increased by the same amounts simultaneously the benefit going to those with incomes above £2,000 would be about 40 per cent.