§ 16. Mr. Wingfield Digby
asked the Chancellor of the Exchequer what would have been the earned income required in 1939 and 1945, respectively, to provide the equivalent purchasing power of an earned income today of £6,536 12s. 6d. net or £24,000 gross.
§ The Economic Secretary to the Treasury (Mr. Anthony Barber)
Allowing for changes in taxation and in the internal purchasing value of the pound, the gross earned income equivalent in 1939 and 1945 to a net income after tax today of £6,536 12s. 6d. was £3,492 and £17,474 respectively, to the nearest pound.
§ Mr. Wingfield Digby
Do not these figures show that the taxation on management has become very high for a country which depends so much on its exports?
§ Mr. Barber
I think that the figures that I have given speak for themselves. 1504 I must decline at this time to engage in any interchange with my hon. Friend on fiscal matters.