§ Mr. HigginsTo 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. LawsonThe information is given in the table:
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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