§ Lord Marlesfordasked Her Majesty's Government:
Whether they will update for the financial years 1988–39, 1989–90 and 1990–91 the table of marginal tax rates published in the House of Commons Hansard for 29th January 1988 (cols. 416–8).
14WA
§ The Minister of State, Department of Transport (Lord Brabazon of Tara)The information is given in the following table:
Married man with two children (under 11) Top marginal rate of tax1 on earned income Gross earned income at which top marginal rate is first applied Year Current prices 1990–91 prices2 Per cent. £ £ 1957–58 92.5 15,279 161,844 1958–59 92.5 15,279 158,198 1959–60 88.75 15,279 157,944 1960–61 88.75 15,279 155,940 1961–62 88.75 18,847 185,444 1962–63 88.75 18,847 179,409 1963–64 88.75 18,901 176,913 1964–65 88.75 18,901 170,109 1965–66 96.25 18,879 162,306 1966–67 91.25 18,879 156,454 1967–68 91.25 18,879 152,813 1968–69 91.25 18,900 145,047 1969–70 91.25 18,900 137,971 1970–71 91.25 18,920 128,700 1971–72 (88.75) 75.44 20,776 129,360 1972–73 (93.75) 79.69 20,776 120,826 1973–74 (90.00) 75.00 21,175 111,461 1974–75 (98.00) 83.00 21,345 95,319 1975–76 (98.00) 83.00 21,435 76,822 1976–77 (98.00) 83.00 21,685 67,412 1977–78 (98.00) 83.00 22,821 62,239 1978–79 (98.00) 83.00 25,735 64,816 1979–80 (75.00) 60.00 26,815 58,295 1980–81 (75.00) 60.00 29,895 55,842 1981–82 (75.00) 60.00 29,895 50,097 1982–83 (75.00) 60.00 33,945 53,147 1983–84 (75.00) 60.00 38,795 58,057 1984–85 60.00 41,255 58,691 1985–86 60.00 43,655 58,708 1986–87 60.00 44,855 58,430 1987–88 60.00 44,995 56,386 1988–89 40.00 23,395 27,649 1989–90 40.00 25,075 27,489 1990–91 40.00 25,425 25,525 1 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 6th April.