§ Mr. Arthur Lewisasked the Chancellor of the Exchequer whether he will give a table of figures showing what a £16.50 per day tax-free allowance to be paid to Members of the House of Lords would be worth gross to a person with and without a married allowance for tax purposes who is in receipt of £1,000, £2,000, £3,000, £4,000, £5,000, £10,000, £20,000, £30,000 and £50,000 per annum.
§ Mr. Robert SheldonAssuming the tax rates and allowances proposed for 1977–78—including the reduction of the basic rate of income tax to 33 per cent.—the figures are as follows:
Value before tax of £16.50 per day tax-free allowance to: Annual income Single person Married man £ £ per day £ per day 1,000 … … 24.63 23.89 2,000 … … 24.63 24.63 3,000 … … 24.63 24.63 4,000 … … 25.34 25.01 5,000 … … 26.95 26.18 10,000 … … 45.84 44.07 20,000 … … 91.43 90.12 30,000 … … 97.06 97.06 50,000 … … 97.06 97.06 The figures represent the gross amount per day that, at different income levels, leaves £16.50 per day after payment of tax. It has been assumed that in 1977–78 the allowance will be paid for 151 days, the same number as in 1976–77, and 622W that after-tax income for the year is thus increased by 151 times the allowance.