§ Mr. Hayhoe
asked the Chancellor of the Exchequer if he will give details of the tax paid by a married couple over 65 years of age with an income of the basic State retirement pension and an investment income of £1,200 per annum in the financial years 1970–71 and 1973–74; and what their net income was in those two years.
§ Mr. Parkinson
asked the Chancellor of the Exchequer if he will give details of the tax and other deductions paid by a married man with two children aged under 11 years on average earnings, including family allowances, and of his final take-home pay in June 1970 and the latest available date.
Assuming that the man is not contracted out of the Graduated Pension Scheme the figures are:
June 1970 August 1973 £p £p Estimated average weekly earnings (all full time adult meals) 29.60 42.94 Income tax 4.61 6.72 National Insurance contributions (Flats rate) 0.88 0.88 National Insurance contributions (Graduated) 0.88 1.59 Take-home Pay 23.31 33.75
The figures for take-home pay do not include family allowances (£0.90 per week) but the tax on the family allowance and the family allowance deduction ("clawback") have been taken into account.