§ Mr. FieldTo ask the Chancellor of the Exchequer if he will estimate the effective marginal tax rates on income from savings for pensioners, and the number of pensioners at each level. [88808]
§ Dawn PrimaroloIf all taxpaying pensioners received an extra £1 of (non-dividend) savings income, then 3.1 million of them would pay 20p more tax, 150,000 would pay 25p more tax, 200,000 would pay 30p more tax and 150,000 of them would pay 40p more tax.
These numbers are based on the 1996–97 Survey of Personal incomes projected to 1999–2000. Pensioners have been defined as women aged 60 and over and men aged 65 and over.