§ Mr. McNamaraasked the Chancellor of the Exchequer what is the effect of his statement on retirement pensioners' incomes following his decision to give no age relief for those over 65 years for the year 1975–76.
§ Mr. Robert SheldonMy right hon. Friend's proposals for age allowance will mean that the tax threshold for over 65s in 1975–76 will he higher than they were under the age exemptions in 1974–75—by £140 a year for a single person and £280 a year for a married couple. Nobody will pay more tax as a result of the change and the great majority of pensioners will pay less.