§ Mr. Rookerasked the Chancellor of the Exchequer (1) if he will publish in tabular form the changes in the higher rate tax bands in his Budget showing the change in absolute and percentage terms for each tax band.
(2) what is his new estimate of the breakdown of income tax reliefs granted in the Finance Bill 1977 between the amount that will accrue to taxpayers with incomes of £4,000 or less and the amount that will accrue to those with incomes in excess of £4,000.
§ Mr. Robert SheldonI will let my hon. Friend have a reply as soon as possible.
§ Mr. Rookerasked the Chancellor of the Exchequer (1) if he will update the information regarding the gross pay equivalents of income tax changes given to the hon. Member for Birmingham, Perry Barr, Official Report, 27th June 1977, column 90, to show the total effect of the Finance Bill 1977 after Third Reading;
(2) what will be the reduction in income tax following changes in the Finance Bill 1977, for the following earnings levels, specifying separate figures for a 519W single person, married couple and married couple with two children under 11 years of age: (a) £2,000, (b) £4,000, (c) £6,000, (d) £7,000, (e) £7,700, (f) £8,800, (g) £9,200, (h) £9,420, (i) £10,000, (j) £10,900, (k) £11,200 (i) £13,200, (m) £15,000, (n) £16,000, (o) £18,675, (p) £19,425, (q) £19,675, (r) £21,175, (s) £ 23,000, (t) £31,000, (u) £35,000 and (v) £ 63,000, showing in each case the gross pay equivalents of these changes on an annual, weekly and percentage basis.
§ Mr. Robert SheldonI regret that in the time available it has not been possible to provide the information requested. I will write to my hon. Friend. Miss Richardson asked the Chancellor of the Exchequer how many (a) single people without children, (b) married men without children, (c) married men with children and (d) one-parent families will be taken out of tax in the present tax
1970–71 1973–74 1976–77 1977–78 (Budget forecast) Public sector borrowing requirement: current prices (£m.) 803 4,411 8,743 8,471 Public sector borrowing requirement expressed in terms of 1963–74 prices (£m.)* 1,011 4.411 5,110 Not available Public sector borrowing requirement as a percentage of gross domestic product at current market prices 1.5 6.1 7.0 6.0 The figures for 1977–78 are from the Financial Statement and Budget Report 1977–78 and I have nothing to add to them. The figures for other years are based on the latest published figures. In each of the first three years shown the public sector borrowing requirement has been expressed as a percentage of gross domestic product at market prices, rather than the gross national product, for consistency with the figures available for 1977–78.
The United Kingdom concept of a public sector borrowing requirement is not used in other major industrial countries. The difficulties of making international comparisons of public sector financial balances were described in an article in the May 1976 issue of Economic Trends.
1The conversion to 1973–74 prices is based on the implied deflator for gross domestic product at market prices.
520Wyear compared with the previous tax year as the result of all the changes in personal allowances in the Finance Bill in its final form.
§ Mr. Robert SheldonI regret that in the time available it has not been possible to provide the information requested. I will write to my hon. Friend.