§ Mr. Geoffrey Finsbergasked the Chancellor of the Exchequer (1) how much extra taxation would accrue to the revenue in the case of a married man with no children with an annual earned income of £4,000, £5,000, £10,000 and £20,000, respectively, if all income over £3,500 were to be taxed at 100 per cent. ;
(2) how much extra taxation would accrue to the revenue in the case of a married man with two dependent children with an annual earned income of £4,000, £5,000, £10,000 and £20,000, respectively, 456W use by the nationalised industries and local authorities can be regarded in general as medium-term. Table II sets out the outstanding principal on such borrowing at end-quarters from June 1970.
if all income over £3,500 were to be taxed at 100 per cent. ;
(3) how much extra taxation would accrue to the revenue in the case of a single man with an annual earned income of £4,000, £5,000, £10,000 and £20,000, respectively, if all income over £3,500 were to be taxed at 100 per cent.
§ Mr. Nott,pursuant to his reply—[OFFICIAL REPORT, 4th December 1973 ; Vol. 865, c. 353]—gave the following information :
If tax rates were increased so that no one was left with a net income in excess 457W of £3,500 the additional tax in the circumstances asked for would be as follows :
ADDITIONAL TAX Earned income Single person Married with no children Married with two children under 11 £ £ £ £ 4,000 Nil Nil Nil 5,000 179 233 320 10,000 2,877 2,976 3,196 20,000 6,317 6,442 6,723