§ Mr. Cartwrightasked the Chancellor of the Exchequer what was the yield from income tax on earnings over £30,000 per year in 1979–80; what is this figure at 1985 prices; and what was the equivalent yield in 1984–85, expressed in 1985 prices.
§ Mr. MooreI regret the delay in providing this reply. Estimates are available in terms of the income tax liabilities of taxpayers with gross income rather than earnings of over £30,000 and with the incomes of married couples combined. In 1979–80, the yield from taxpayers with incomes over £30,000 per year was £1,150 million—£1,850 million at 1985–86 prices. The equivalent level of income after adjusting for price inflation would be £45,800 in 1984–85. Tax yield in that year from incomes above that level is estimated to be £2,600 million—£2,750 million at 1985–86 prices.