Tax Rates (International Comparisons)

HC Deb 21 February 1979 vol 963 c195W

Mr. Ian Stewart

asked the Chancellor of the Exchequer whether he will list those countries having a top rate of tax on earned income in excess of 80 per cent., and indicate the approximate level of income at which these top rates are reached, converted to £ sterling at the current exchange rate.

Mr. Robert Sheldon

The information available is given in the table below:

	Top rate of tax (Percent.)	Approximate level of income at which reached(£)
Japan	83.7	230,000
Libya	93.5	250,000
Portugal	94.0	18,000
Sweden	85.0	17,700
Tanzania	95.0	14,500
Tunisia	83.5	13,000
United Kingdom	83.0	25,735

Notes:

1. 1. The rates of tax quoted for Japan and Sweden include local taxes.
2. 2. Currency conversions are made at the exchange rates prevailing on 12 February
3. 3. It is assumed that the individual being charged to tax is a married man with two children under 11.