HC Deb 25 January 1988 vol 126 cc79-80W
Mr. Austin Mitchell

To ask the Chancellor of the Exchequer what was(a) the nominal interest rate and (b) the real interest rate on an annual basis for (i) the United Kingdom, (ii) West Germany, (iii) Japan and (iv) Austria in each year from 1977 to date.

Mr. Lilley

There are a number of ways of measuring real interest rates. Data on interest rates and various price indices for the OECD countries are contained in the

Reductions (+)1 Increases ( - ) in income tax compared with 1978–79 indexed regime
(£ million)
Range of total income in 1987–881 Number of units paying tax in 1987–88
£ (million) 1979–80 1980–81 1981–82 1982–83 1983–84 1984–85 1985–86 1986–87 1987–88
Under 5,000 3.20 230 100 -290 -250 -20 110 230 270 340
5,000 to 10,000 7.70 1,210 740 -270 -160 410 790 1,120 1,410 1,990
10,000 to 15,000 5.20 1,410 1,010 190 280 740 1,150 1,450 1,820 2,540
15,000 to 20,000 2.50 1,010 770 290 350 610 890 1,060 1,330 1,870
20,000 to 30,000 1.50 1,140 940 370 440 780 1,040 1,160 1,410 1,900
30,000 to 50,000 0.50 1,090 950 540 590 830 1,040 1,100 1,210 1,400
50,000 to 70,000 0.10 550 510 370 390 460 560 570 590 610

monthly publication "OECD Main Economic Indicators." Longer series can be found in "OECD Historical Statistics."