§ Mr. Knoxasked the Chancellor of the Exchequer what is his estimate of the growth in the production capacity of the economy in each of the past 10 years.
§ Mr. NottEstimates of the growth in productive capacity in the economy in any particular past year are subject to appreciable margins of error. Allowances
INCOME Annual gain (+) or loss (-) All earned Single Person Married couple (no children) Married couple (two children, under 11) Married couple (four children, under 11) £ £p £p £p £p 1,000 … … +46.50 +67.50 +161.20 +265.20 2,000 … … -3.50 +42.50 +115.74 +166.94 3,000 … … -116.00 -57.50 +15.74 +66.94 5,000 … … -491.00 -407.50 -334.26 -283.06 10,000 … … -1,502.55 -1,401.25 -1,413.25 -1,425.25
Including £2,000 or more investment income 3,000 … … -266.00 -207.50 -134.26 -83.06 5,000 … … -641.00 -557.50 -484.26 -433.06 10,000 … … -1,625.25 -1,551.25 -1,563.25 -1,575.25 The effect of disallowing mortgage interest and life assurance relief above an income of £8,000 a year would depend on the payments made.
212Whave to be made for a number of uncertain factors—for example, for changes in the numbers of those available for work, for changes in the length of the working year, for developments in the capital stock, for changes in the efficiency of use of resources generally. With these qualifications it is the Government's view that the growth in productive capacity has on average over the past decade been about 3–3½ per cent. per annum.