§ Mr. David ShawTo ask the Chancellor of the Exchequer if he will publish the changes in the rates of income tax for each year for which the information is readily available; and if he will make a statement.
§ Mr. MaudeThe changes in the main rate of income tax since 1900 are shown in the table. The table does not show the various reduced rates of tax which applied nor any difference between the rate of tax on earned and unearned income.
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Government Party Rate of tax August 1931 to May 1940 National 1932–33 to 1933–34 5s 0d Standard rate, (25%) 1934–35 to 1935–36 4s 6d Standard rate, (22.5.) 1936–37 4s 9d Standard rate, (23.75.) 1937–38 5s 0d Standard rate, (25%) 1938–39 5s 6d Standard rate, (27.5%) 1939–40 7s 0d Standard rate, (35%) 1940–41 8s 6d Standard rate, (42.5%) May 1940 to May 1945 Coalition 1941–42 to 1945–46 10s 0d Standard rate, (50%) May 1945 to July 1945 Conservative — — July 1945 to October 1951 Labour 1946–47 to 1950–51 9s 0d Standard rate, (45%) 1951–52 9s 6d Standard rate. (47.5%) October 1951 to October 1964 Conservative 1952–53 9s 6d Standard rate, (47.5%) 1953–54 to 1954–55 9s 0d Standard rate. (45%) 1955–56 to 1958–59 8s 6d Standard rate, (42.5%) 1959–60 to 1964–65 7s 9d Standard rate, (38.75%) October 1964 to June 1970 Labour 1965–66 to 1969–70 8s 3d Standard rate, (41.25%) 1970–71 41.25% Standard rate June 1970 to March 1974 Conservative 1971–72 to 1972–73 38.75%, Standard rate 1973–74 30%, Basic rate March 1974 to May 1979 Labour 1974–75 33%, Basic rate 1975–76 to 1976–77 35%, Basic rate 1977–78 34%, Basic rate 1978–79 33%, Basic rate May 1979 to Conservative 1979–80 to 1985–86 30%, Basic rate 1986–87 29%, Basic rate 1987–88 27%, Basic rate 1988–89 to 25%, Basic rate