§ 26. Mr. Ridleyasked the Chancellor of the Exchequer by how much it would reduce the yield of income tax for 1977. 78 if he returned to the rates of tax, and the real value of the allowances, which were in force in 1973–74.
§ Mr. Denzil DaviesThe yield of income tax for 1977–78 will depend on the Budget. However, on the basis of the increase in prices between April 1973 and December 1976, and at 1976–77 income levels, the cost would be in the region of £5,000 million.
§ Mr. Ridsdaleasked the Chancellor of the Exchequer (1) how much tax is paid annually by a single woman aged 60 years or over on an income of £30 a
Weekly income equivalent to £30 in 1976–77 Tax payable annually by a single woman aged 60 or over but not over 65 Tax payable annually by a single person aged 65 or over Weekly income equivalent to £40 in 1976–77 Tax payable annually by a married couple aged over 65 £ £ £ £ £ 1976–77 … … 30.00 288.75 192.50 40.00 183.75 1974–75 … … 21.19 157.41 157.41 28.25 164.45 1971–72 … … 15.19 112.16 112.16 20.25 126.83 1966–67 … … 11.42 62.60 62.60 15.21 72.57 The figures take account of the rise in the General Index of Retail Prices between the financial years 1966–67, 1971–72, 1974–75, and the first 10 months of 1976–77. It has been assumed that the income is all earned.