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Mr. Freud
asked the Chancellor the Exchequer, pursuant to the reply given to the hon. Member for Isle of Ely on 31 March, Official Report, c. 124, what tax was payable by a single man earning £40 per week gross in March 1982; and what tax was payable on the same earnings in real terms in March of each year from 1978 to 1981.
Mr. Ridley
[pursuant to his reply, 20 April 1982, c. 62]: The information is as follows:
Date
| Fiscal Year
| Gross equivalent earnings
| Income tax due at rate prevailing in fiscal year
|
£ per week
| £ per week
| ||
| March 1978 | 1977–78 | 24·48 | 2·14 |
| March 1979 | 1978–79 | 26·88 | 1·98 |
| March 1980 | 1979–80 | 32·19 | 2·45 |
| March 1981 | 1980–81 | 36·25 | 2·94 |
| March 1982 | 1981–82 | 40·00 | 4·07 |
Gross earnings equivalent to £40 per week in March 1982 have been calculated by reference to movements in the general index of retail prices.