:To ask the Chancellor of the Exchequer what his estimate is of the number of adults living on an income of less than (a) £5,000, (b) £7,500, (c) £10,000, (d) £15,000, (e) £20,000, (f) £30,000, (g) £35,000, (h) £40,000, (i) £50,000, (j) £75,000, (k) £100,000, (l) £150,000, (m) £200,000, (n) £500,000, (o) £1 million and (p) £10 million in the latest year for which information is available. [130553]
:The information requested is provided for households and is set out in the table. The income definition used is household net equivalised income before housing costs.
Number of households in 2000–01 with net equivalised 1 income of less than
| Number 2 (thousand)
|
(a) £5,000 | 483 |
(b) £7,500 | 1,857 |
(c) £10,000 | 4,651 |
(d) £15,000 | 10,950 |
(e) £20,000 | 15,872 |
(f) £30,000 | 21,090 |
(g) £35,000 | 22,319 |
(h) £40,000 | 23,048 |
(i) £50,000 | 23,795 |
(j) £75,000 | 24,290 |
(k) £100,000
| 24,439 |
(1) £150,000 | 24,504 |
(m) £200,000 | 24,523 |
(n) £500,000 | 24,576 |
(o) £1,000,000 | 24,586 |
(p) £10,000,000 | 24,586 |
1Income is adjusted or equivalised to take into account variations in both size and composition of the household. This process reflects the notion that a family of several people needs a higher income than a single person in order for both households to enjoy a comparable standard of living. Incomes of larger families are adjusted downwards and incomes of smaller households adjusted upwards. | |
2This is based on IGOTM Tax/Benefits model using the Family Resources Survey 2000–01. | |