§ Mrs. Roeasked the Chancellor of the Exchequer if he will list (a) the number of married women whose investment income was assessed to tax as that of their husbands' during the tax years 1982–83, 1983–84, and 1984–85, (b) the total gross income so assessed in each year and (c) the tax received thereon.
§ Mr. Norman Lamont[pursuant to his reply, 16 March 1987, c. 387]:The Surveys of Personal Income for the years specified indicate that about 1½ million married women
262W had investment income amounting to some £1¼ billion per annum on which the tax due would be about £500 million. This calculation treats the wife's investment income as the top slice of the couple's joint income. In practice, these figures underestimate the full amounts, because the surveys do not provide comprehensive coverage of investment income on which the liability to basic rate tax has been satisfied at source.
Effect of Transferable Allowances1 at 1987–88 Income levels Paying less tax Paying more tax Total Income (lower limit) £ per week Numbers thousands Annual tax change £ million Numbers thousands Annual tax change £ million Annual tax change £ million Married Couples aged under 65—both earning Under 60 — — — — — 60–100 30 -5 20 — -5 100–150 90 -15 270 + 70 + 55 150–200 140 -20 530 + 155 + 135 200–300 250 -35 1,790 + 580 + 545 300–400 90 -10 1,460 + 510 + 500 Over 400 130 -45 1,070 + 340 + 295 All 730 -130 5,140 + 1,655 + 1,525 Married Couples aged under 65—one earning Under 60 — — 10 — — 60–100 210 -35 10 + 5 -30 100–150 620 -170 70 + 15 -155 150–200 910 -255 50 + 10 -245 200–300 1,550 -440 40 + 10 -430 300–400 500 -145 10 — -145 Over 400 390 -195 10 — -195 All 4,180 -1,240 200 + 40 -1,200 Married Couples aged 65 and over Under 60 — — — — — 60–100 140 -10 — — -10 100–150 440 -120 90 + 20 -100 150–200 200 -60 90 + 20 -40 200–300 140 -50 100 + 10 -40 300–400 50 -20 40 + 5 -15 Over 400 80 -90 50 + 10 -80 All 1,050 -350 370 + 65 -285 All Groups 5,960 -1,720 5,710 + 1,760 + 40 1 At £2,425 for non-aged and with age allowances of £2,690 for aged 65–79 and £3,070 for aged 80 and over.