HC Deb 29 January 1988 vol 126 cc416-7W
Mr. Higgins

To ask the Chancellor of the Exchequer if he will publish a table in theOfficial Report showing, as a percentage, the top marginal rates of tax on personal income, including as appropriate income tax, special contributions, supertax, surtax, surtax surcharge and investment income surcharge, levied since 1957–58 on individuals in the United Kingdom, showing the level of gross income, at both current and 1987 constant prices, assuming the income to be that of a married man with two children, at which the top marginal rate of tax is first applied and also showing the dates of changes in the top marginal rates.

Mr. Lawson

The information is given in the table:

Married man with two children (under 11)
Top marginal rate of tax1 on earned income Gross earned income at which top marginal rate of tax first applied
Current prices 1987–88 prices2
per cent. per cent. £ £
1957–58 92.50 15,279 129,129
1958–59 92.50 15,279 126,218
1959–60 88.75 15,279 125,914
1960–61 88.75 15,279 124,218
1961–62 88.75 18,847 147,837
1962–63 88.75 18,847 142,814
1963–64 88.75 18,901 141,036
1964–65 88.75 18,901 135,611
1965–66 96.25 18,879 129,391
1966–67 91.25 18,879 124,725
1967–68 91.25 18,879 121,823
1968–69 91.25 18,900 115,631
1969–70 91.25 18,900 109,991
1970–71 91.25 18,920 102,600
1971–72 75.44 (88.75) 20,776 103,126
1972–73 79.69 (93.75) 20,776 96,323
1973–74 75.00 (90.00) 21,175 88,857
1974–75 83.00 (98.00) 21,345 75,989
1975–76 83.00 (98.00) 21,435 61,243
1976–77 83.00 (98.00) 21,685 53,741
1977–78 83.00 (98.00) 22,821 49,617
1978–79 83.00 (98.00) 25,735 51,671
1979–80 60.00 (75.00) 26,815 46,473
1980–81 60.00 (75.00) 29,895 44,582
1981–82 60.00 (75.00) 29,895 39,938
1982–83 60.00 (75.00) 33,945 42,369
1983–84 60.00 (75.00) 38,795 46,283
1984–85 60.00 41,255 46,822
1985–86 60.00 43,655 46,803
1986–87 60.00 44,855 46,580
1987–88 60.00 44,995 44,995
1 1957–58 to 1970–71: standard rate plus highest rate of surtax.
1971–72 to 1972–73: standard rate plus highest rate of surtax. The figures in brackets represent the top marginal rate of tax on investment income.
1973–74 to 1983–84: Highest rate of income tax. The figures in brackets represent the top marginal rate on investment income assuming a minimum at current prices of £2,000 of investment income 1973–74 to 1977–78; £2,250, 1978–79; £5,000, 1979–80; £5,500, 1980–81 to 1981–82; £6,250, 1982–83; £7,100, 1983–84.
2 By reference to movements in the general index of retail prices.
Changes in tax rates apply from 6 April