§ Mr. Nicholas Wintertonasked the Chancellor of the Exchequer what was the amount of direct taxation paid by a married man with two children aged 10 and 13 years in December 1973 earning £4,000, assuming he had a monthly mortgage payment of £50 and he and his wife had no other sources of income; and how this compares with the situation at present.
§ Mr. Robert SheldonThe figures are:
Income tax £ 1973–74 689.04 1977–78 524.96 It has been assumed that the whole of the monthly mortgage payment relates to interest and is allowable as a deduction from income.
No allowance has been made for changes in salary, mortgage payments or cost of living since December 1973.
Tax on the family allowance of £46.80 has been included for 1973–74.