§ Mr. Adleyasked the Chancellor of the Exchequer what he estimates the cost would be, in the current financial year, if extending capital allowances were extended to hotel buildings.
§ Mr. Joel BarnettThe cost of extending the industrial buildings allowance
Value in 1975–76 if increased in line with: Year Tax allowance(1) Price Index Earnings Index £ £ £ (a) Single person's allowance: 1946–47 … … … 126 576 1,269 1950–51 … … … 138 521 1,112 1960–61 … … … 180 489 752 1970–71 … … … 418 771 905 (b) Married man's allowance: 1946–47 … … … 206 943 2,075 1950–51 … … … 225 852 1,813 1960–61 … … … 309 839 1,291 1970–71 … … … 598 1,103 1,294 Notes:
(1) The values of the tax allowances have been adjusted for the effect of earned income relief where appropriate.
(2) The price index used is that given in Table 2 of the publication issued by the Central Statistical Office, "The Internal Purchasing Power of the Pound". The indices used refer to calendar years.
(3) The average earnings index is that for full-time manual men aged 21 and over in manufacturing and certain other industries at October of each year, with an estimate for October 1975 based on the monthly index of average earnings.
(4) Although this is not material to the Answer the married man's allowance for 1975–76 is £955 not £975 as stated in the Question.