§ Lord VAIZEYasked Her Majesty's Government:
Whether they will list the tax gains accruing to a married couple, with two children under 11, earning £2,000, £4,000, £6,000, £8,000, £10,000, £15,000 and £20,000 from the Opposition Amendments to the Finance Bill now under consideration: and whether they will also list the size of gross pay increase which would be required to have the same net effect as the proposed tax cuts.
§ Baroness BIRKThe figures are as follows:
(a) (b) (c) Annual earnings Annual reduction in tax Gross increase in annual earnings required to give same net increase as the reduction in tax£ £ £ £ 2,000 — — 4,000 15 25 6,000 35 59 8,000 55 84 10,000 146 265 15,000 547 1,564 20,000 1,072 4,289 Column (c) takes account of the additional National Insurance contribution payable, on the assumption that the employee is not contracted out of the new pension scheme. This affects only the figures for earnings levels of £4,000 and £6,000.
House adjourned at five minutes past five o'clock.