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Mr. MacGregor
asked the Chancellor of the Exchequer to what levels the main personal allowances would need to be raised now in order to maintain their real value at April 1973; and what these increases would cost in terms of revenue.
Mr. Robert Sheldon,
pursuant to his reply[Official Report, 11th December 1978; Vol. 960, c. 47],gave the following information:On the basis of the change in the retail prices index between April 1973 and October 1978, the latest month for which a figure is available, the principal personal allowances would be as follows:
| £ | |
| Single person | 1,299 |
| Wife's earned income allowance | 1,299 |
| Married person | 1,692 |
| Age Allowance—Single | 1,528* |
| Age Allowance—Married | 2,183* |
| *These amounts are based on the value of age exemption for 1973–74. | |