HC Deb 23 October 1972 vol 843 cc196-7W
65. Mr. Meacher

asked the Chancellor of the Exchequer what is the estimated aggregate gain that would accrue per year to those with incomes below £1,000 a year and to those, respectively, in each successive £1,000 income bracket above the initial £1,000 per year, on the basis of introducing tax credits now, at the levels listed in the Green Paper.

Mr. Higgins

The aggregate gain for those below £1,000 a year would be £150 million. Other figures are not available in the form the hon. Member wants, but round estimates for broader income groups are as follows:

£ million
All those below average earnings (£1,600) 550
All those below 1½ times average earnings (£2,500) 1,050
All those below 3 times average earnings (£5,000) 1,250