§ Mr. Matthew BanksTo ask the Chancellor of the Exchequer what is the average impact on households in 1995–96 of(a) direct and indirect tax measures announced in the Budget and (b) all tax-related measures taking effect between 29 November 1994 and November 1995; and what has been the rise in real household disposable income per head since 1979.
§ Sir George YoungReal household disposable income per head has risen by nearly 50 per cent. since 1979. The impact on households of tax-related measures taking effect over the next year is shown in the table. After taking account of tax and inflation, real personal disposable income is forecast to rise by 1½ per cent. in 1995.
Impact on households of main tax-related measures in 1995–96.Impact of main direct and indirect tax changes affecting households relative to indexation and net of VAT compensation. November 1994 Budget measures (1) All measures (2) Households: Average 0.30 -2.80 Pensioners 0.50 -0.50 £ per week to nearest 5p
Gain (+)/ loss (-)
(1) Figures for new Budget measures (column (1)) show the impact of the main tax measures directly affecting households announced in the November 1994 Budget. Figures for all measures (column (2)) show the impact on households of new and pipeline tax-related measures taking effect over the next year, including measures announced in the November 1994, November 1993 and March 1993 Budgets
(2) Estimates are taken from an analysis of the 1990–92 Family Expenditure Surveys uprated to 1995–96 earnings and price levels.