§ Mr. Knoxasked the Chancellor of the Exchequer what increase would be necessary to bring the real value of (a) age allowances, (b) child allowances, (c) single persons' allowances and (d) married persons' allowances to the level enjoyed in February 1974.
§ Mr. Robert SheldonThe figures are as follows:
The age exemption limits in 1973–74 were £700 and £1,000 for single and married taxpayers respectively. Revaluing these by the change in prices between February 1974 and May 1976 gives levels of £1,068 and £1,526 as compared with the age allowances proposed for 1976–77 of £1,010 and £1,555.