HM Treasury warning: Tories harm your wealth
Thursday 12 December 1996
The Chief Secretary to the Treasury last night pre-empted a Commons answer to shadow spokesman Alastair Darling with a Conservative Party press release, headed: "William Waldegrave hails official confirmation of real rise in living standards."
In fact, the long-delayed Commons answer provides the definitive, post- Budget calculations on the tax burden for a range of families - allowing comparisons to be made right back to 1978-79, when Labour was last in office.
The Treasury tables showed for example, that the tax burden for a married couple with two children and one earner on average male earnings this year is 35.3 per cent of average weekly pounds 395.50 gross income.
That represents a fall on last year's overall tax burden for the same average family, when it was 35.7 per cent, and it is due to fall to an estimated 35.1 per cent next year.
But that compares unfavourably with the year before the last election, 1991-92, when the burden was 33.2 per cent for the same average family. In a 1991 radio interview, Norman Lamont, then Chancellor of the Exchequer, said: "We still believe that the burden of taxation is this country is too high, taking nearly a third of the average person's income."
Mr Waldegrave said: "It is arrant nonsense for Labour to claim that because people are paying more tax than they were five years ago, they are worse off. Earnings have risen and people are paying more tax as a result." According to Treasury figures for the same average family, the tax burden when Labour was last in office, in 1978-79, was 32.2 per cent.The Exchequer is now taking an extra three percentage points of average gross income. If the current tax burden was 32.2 per cent, the average family would be more than pounds 11 a week better off - on top of its increased earnings.
- 2 Rarest Beanie Baby of them all could be sold for £62,500 on eBay
- 3 Professional big game hunter Ian Gibson crushed to death by elephant during hunt
- 4 Farmer told to tear down mock-Tudor castle after hiding construction behind hay bales
Yemen crisis: Meet the child soldiers who have forsaken books for Kalashnikovs
Alan Rickman admits editing 'terrible' script with friends in Pizza Hut behind backs of writers on Robin Hood: Prince of Thieves
Rarest Beanie Baby of them all could be sold for £62,500 on eBay
Professional big game hunter Ian Gibson crushed to death by elephant during hunt
Farmer told to tear down mock-Tudor castle after hiding construction behind hay bales
If I’m being racially abused I don’t need a stranger with a saviour complex to rescue me
The only black face in the Ukip manifesto is on the page about overseas aid
Ukip is the only main political party to not address LGBT rights in its manifesto
Food banks: One million Britons will soon be using them, according to Trussell Trust
Religion isn't growing, it is becoming vigorous in its demise, says philosopher AC Grayling
BBC election debate: The one photo that summed up the whole 90-minute leaders debate
£18000 - £23000 per annum: Recruitment Genius: They work with major vehicle ma...
£16500 per annum: Recruitment Genius: A Chiropractic Assistant is needed in a ...
£18000 - £26000 per annum: Recruitment Genius: They work with major vehicle ma...
£28000 - £30000 per annum: Recruitment Genius: This company provides coaching ...