Proceeding contribution from Lord McFall of Alcluith (Labour) in the House of Commons on Monday, 21 April 2008. It occurred during Debate on bill on Finance Bill.
Finance Bill
There are in fact figures. I do not want to go through them tonight, but let me give my hon. Friend a feel for them. Some 2.2 million of the total will be single working people with no children who do not receive tax credits, while 1.2 million will be two-earner couples with no children and 400,000 will be households comprising one-earner couples without children, most of which will be in the range of about £17,000 to £18,500. There will be 700,000 two-earner couples with children who will lose twice because of income tax and national insurance changes, but who will perhaps gain only once through child tax credit or working tax credit. There will be 300,000 tax-paying women between the ages of 60 and 64 who do not get tax credits and who are too young to be compensated by the rise in pensioner tax allowance. There will also be 500,000 non-workers paying more tax on their taxable benefit and pensions than they gain. They could be early retirees or incapacity benefit claimants. We can see, therefore, how wide-ranging the impact of this measure will be. Those are the figures that add up to the 5 million; I am quite happy to share that information.
Secondary information
- Type
- Proceeding contribution
- Reference
- 474 c1089-90
- Session
- 2007-08
- Chamber / Committee
- House of Commons chamber
- Subjects
- Children Child tax credit Child benefit Alcoholic drinks Charities Capital gains tax Aviation Corporation tax Banks Climate change Capital investment Credit Bingo Air passenger duty Civil partners Families Environment protection Income tax Fuels Inheritance tax Government assistance Double taxation Domicil Economic situation EU emissions trading scheme Forecasts Pensioners Low incomes Poverty Minimum wage Public houses Personal taxation Married people Low pay Public finance New businesses Public sector debt Migrant workers Working tax credit Small businesses Tax allowances Tax avoidance Taxation VAT Supermarkets Dividend tax credits Winter fuel payment Secured loans Revenue and Customs Carbon emissions Research and development tax credit Institute for Fiscal Studies Earnings limits Budget March 2007 Enterprise investment scheme
- Legislation
- Finance Bill 2007-08
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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