§ Mr. Spenceasked the Chancellor of the Exchequer if he will publish a table, from international sources available to him, showing for a married couple under 65 years of age, all of whose income is derived from investment, the amount of their income at which the maximum rate applies expressed in £ sterling in each of the EEC member States, Sweden, the United States of America, Canada and Japan.
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§ Mr. Robert SheldonI refer the hon. Member to my Written Answer to his Question on 7th April 1976—[Vol. 909,
Country Income year Maximum Rate Per cent. Starting point for maximum rate £ Belgium … … … … … … 1975 72(75.6) 53,400 Denmark … … … … … … 1975 39.6(60.2) 7,760 France … … … … … … 1975 60 25,340 Germany … … … … … … 1975 56 53,370 Ireland … … … … … … 1975–76 77 11,270 Italy … … … … … … 1976 72 (76) 396,550 Luxembourg … … … … … … 1975 57 18,650 Netherlands … … … … … … 1976 72 30,060 United Kingdom … … … … … … 1975–76 98 20,955 Sweden … … … … … … 1975 56 (79) 18,310 United States … … … … … … 1975 70(73.3) 116,950 Canada … … … … … … 1976 47(61.3) 43,650 Japan … … … … … … 1975 75 (93) 139,790 (a) Sterling equivalents are calculated at 30th March 1976 and rounded to the nearest £10. (b) The figures in brackets show rates inclusive of representative local income tax, or of general additional charge. (c) Allowing for the conditional increases in personal allowances, the starting point for the United Kingdom will be £21,085 for 1976–77. (d) Further information about the treatment of various kinds of investment income in the countries specified is contained in "Income Taxes Outside the United Kingdom" compiled by the Inland Revenue, a copy of which is in the library.