§ Mr. Biffenasked the Chancellor of Exchequer what further plan he has for the implementation of the double taxation relief agreement with the United States of America now in draft order form.
579W
§ Mr. Denzil DaviesThe terms of the proposed new income tax treaty with the United States were approved by the House on 12th January and 20th June. I understand that the draft treaty will be considered by the United States Senate later this month.
§ Mr. Biffenasked the Chancellor of the Exchequer if he will make a statement on the progress to date in the conclusion of a double taxation relief agreement consequential on the introduction of accelerated corporation tax with Canada.
§ Mr. Denzil DaviesThe negotiations about a revised tax treaty with Canada are at an advanced stage.
§ Mr. Biffenasked the Chancellor of the Exchequer if, in the drafting of double taxation agreements consequential
TAX THRESHOLD AS A PERCENTAGE OF AVERAGE EARNINGS Year Single person Married couple Married couple with I child under II Married couple with 2 children under II Married couple with 3 children (2 under 11, 1 between 11 and 16) Married couple with 4 children (2 under 11, 2 between 11 and 16) 1949–50 … … 39.4 62.8 83.0 99.7 115.4 130.0 1950–51 … … 37.3 59.6 78.8 94.8 109.8 124.0 1951–52 … … 33.8 56.9 77.1 94.6 110.9 126.5 1952–53 … … 35.3 60.3 83.8 103.4 121.6 138.5 1953–54 … … 33.3 56.9 79.1 97.1 113.8 129.1 1954–55 … … 30.9 52.7 73.3 90.3 106.0 120.7 1955–56 … … 32.9 55.2 77.4 96.0 113.6 129.8 1956–57 … … 31.0 51.9 72.7 90.3 106.6 121.6 1957–58 … … 29.4 49.1 68.8 85.7 105.5 123.7 1958–59 … … 28.9 48.3 67.6 84.2 103.7 121.7 1959–60 … … 27.4 45.7 64.1 79.9 98.6 115.9 1960–61 … … 25.5 42.6 59.7 74.5 92.2 108.6 1961–62 … … 25.6 41.6 57.8 71.9 88.8 104.5 1962–63 … … 24.7 40.2 55.9 69.6 86.0 101.4 1963–64 … … 32.8 50.5 67.5 82.5 99.8 116.1 1964–65 … … 30.4 46.7 62.4 76.4 92.6 108.0 1965–66 … … 27.8 43.0 57.4 70.5 85.7 100.1 1966–67 … … 26.8 41.5 55.4 68.1 82.8 96.8 1967–68 … … 25.5 39.4 52.7 64.8 78.9 91.3 1968–69 … … 23.7 36.6 48.9 55.5 63.8 71.5 1969–70 … … 25.4 37.4 48.8 54.1 61.2 67.7 1970–71 … … 28.6 41.0 51.1 55.8 62.0 67.8 1971–72 … … 26.0 37.2 49.6 57.0 65.6 73.7 1972–73 … … 31.8 41.4 52.1 58.4 66.0 73.0 1973–74 … … 28.0 36.4 45.8 51.3 57.9 64.3 1974–75 … … 24.7 34.2 43.7 50.2 57.7 64.9 1975–76 … … 21.8 30.8 38.6 43.5 49.4 54.9 1976–77 … … 21.1 31.2 39.8 45.9 52.7 59.2 1977–78 … … 23.1 35.4 41.6 47.2 53.6 59.7 In order to produce a consistent series of figures over this period, average earnings have been taken to be the annual equivalents of average weekly earnings of full-time male manual workers aged 21 and over in manufacturing and certain other industries at October of each year,
580Won the introduction of accelerated corporation tax, he proposes to extend to unit trusts provisions analogous to those provided in the agreement with Switzerland.
§ Mr. Denzil DaviesThis would depend on the circumstances of the agreement in question.