asked the Chancellor of the Exchequer by how much, in terms of the present value of money, the net take home pay, after deduction of tax and national insurance contributions, of a married man with two children under 11 years of age, in receipt of average industrial earnings, has increased: (a) since he took office in March 1974 and (b) since the General Election of October 1974, to the latest date for which figures are available.

pursuant to his reply [Official Report, 19th May, 1978; Vol. 950, c. 362], gave the following information:The figures are as follows:

FALL IN REAL NET INCOME TO MARCH 1978 AT CONSTANT MARCH 1978 PRICES:
		£ per week
(a) Since March 1974	…	0·62
(b) Since October 1974	…	1·27

The rise in oil prices in 1973–74, and the ensuing worldwide recession, produced a fall in real GDP, which was subsequently reflected in a decline in real personal disposable income. The financial recovery in 1977, and in reduced inflation, have allowed this decline to be reversed from around the middle of last year. In the six months from September 1977, the real net income of a married man on average earnings with two children under 11—measured on the same definitions and price basis—has risen by £3·93 a week.Net incomes is earnings plus family allowance in 1974 and child benefit in 1978, less income tax and national insurance contributions. The figures for March 1974 include the changes in income tax rates and allowances announced for 1974–75 in the Budget of that month; those for March 1978 include the 1978 Budget proposals and also reflect the increases in child benefits and national insurance contributions taking effect in April 1978.Average industrial earnings have been taken as the new earnings survey estimate of the average weekly earnings of full-time adult male manual workers in the previous April, updated to the appropriate month by the monthly index of average earnings. The prices index used is the General Index of Retail Prices—all items.It has been assumed that the employee is not contracted out of the graduated pension scheme.