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Motion made, and Question,
(1) In section 8(1A) and (IB) of the Income and Corporation Taxes Act 1970 for "£1,425", "£950" and "£3,000" there shall be substituted "£1,555", "£1,010" and "£3,250" respectively.
(2) In section 10(3) of that Act (children)—
but this Resolution shall not require any change to be made in the amounts deductible or repayable under section 204 of the said Act of 1970 (pay as you earn) before 5th June 1976.
And it is hereby declared that it is expedient in the public interest that this Resolution should have statutory effect under the provisions of the Provisional Collection of Taxes Act 1968.—[Mr. Healey.]