§ Mr. RapsonTo ask the Chancellor of the Exchequer how many retirement pensioners are liable to pay income tax; at what rates; and what proportion each group represents of total retirement pensioners. [150065]
§ Dawn Primarolo[holding answer 15 February 2001]: The numbers of taxpayers of over state retirement pension age are set out in the table.
Estimates for 2000–01 Number of pension age1 taxpayers (million)2 Percentage of pension age1 population Starting rate3 0.8 7 "Savers" rate4 0.6 6 Basic rate5 2.7 25 Higher rate6 0.2 2 All taxpayers 4.3 40 1 Women aged 60 or over, men aged 65 or over 2 Estimates rounded to the nearest 100,000 3 Taxpayers with a marginal rate at the 10 per cent. starting rate from an extra £1 of earnings. 4 Taxpayers with a marginal rate at the 20 per cent. lower rate for savings income or the 10 per cent. ordinary dividend rate from an extra £1 of earnings. 5 Taxpayers with a marginal rate at the basic rate from an extra £1 of earnings. 6 Taxpayers with taxable income above the higher rate threshold. Note:
The estimates are based on the Survey of Personal Incomes and consistent with the November 2000 pre-Budget report.