§ Mr. Trotterasked the Chancellor of the Exchequer what gross income would be required to be earned in (a) five years' time and (b) 10 years' time by a married man with two children under 11 assuming the 1975–76 rates of tax and allowances remain in force in order to maintain in real terms the net value of his present annual earnings before tax of (a) 2,000, (b) £3,000, (c) £4,000, (d) £5,000, (e) £6,000, (f) £8,000 and (g) £10,000 on the assumption that inflation runs at an annual rate of 26 per cent.
§ Mr. Robert Sheldon,pursuant to his reply of Tuesday 11th November, gave the following information:
The figures are as follows:
Gross Earnings required in 1975–76 Gross Earnings Earnings after tax (a) 5 years time (b) 10 years time 2,000 1,757 8,303 67,953 3,000 2,407 13,395 106,576 4,000 3,057 21,027 145,076 5,000 3,707 32,976 183,641 6,000 4,347 44,935 221,623 8,000 5,427 65,123 285,729 10,000 6,308 81,570 337,964