Clause 23 - Charge and rates for 2004–05
Finance Bill
10:15 am
Ms Dawn Primarolo (Paymaster General, HM Treasury; Bristol South, Labour)
I do not have to hand the precise figures on the number of people moving into the higher rate, but they are published regularly and I will ensure that the hon. Gentleman receives them. He needs to be reminded of the signs of prosperity in the economy. Between 1997–98 and 2002–03, average earnings for men and women of all talents increased by 25 per cent., whereas prices only went up by 12 per cent. The sign of a prosperous economy in which people are earning more is that some of them move into the higher rate band.
The hon. Gentleman will also be aware that the interaction of the tax credits and the 10p starting rate is ensuring that those on the lowest incomes are retaining as much as possible, and in particular are avoiding the regressive nature of many changing allowances, which, as he knows, is more of a benefit for those at the top of the income range.
I have already provided a written parliamentary answer to the hon. Gentleman. Perhaps the information has escaped his notice. I am happy to ensure that that information, which is contained on the Inland Revenue website, is made available to him and the Committee.
Question put and agreed to.
Clause 23 ordered to stand part of the Bill.