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Mr. Scott-Hopkins
asked the Chancellor of the Exchequer what gross earnings at 5th April 1978 were necessary for an individual to have the equivalent in real terms of £8,000 per annum net of income tax at 5th April 1973; and what gross earnings were necessary to achieve £8,000 per annum net of tax at 5th April 1973.
Mr. Robert Sheldon
The figures for a single person are as follows:
Gross | Net of Tax | |
£ | £ | |
5th April 1973 | 15,995 | 8,000 |
5th April 1978 | 60,877 | 16,973 |