NATIONAL INCOME
REDUCTION IN BRITAIN
ESTIMATE FOR LAST YEAR
LOWEST. FOR DECADE
British Official Wirelesi.
RUGBY, 11th April.
A reduction in ;tho national income is disclosed by the Conimissioners of Inland Revenue, in their ..report for. the year ended. 31st March.. The ■ gross .income under review, was estimated at £2^904,000,000, the lowest since 1918----19. This, was -reduced by exemptions and allowances to £1,300,000,000. The net''produce was £228,000,000, an average of 23.58 d' on' each pound ,6f actual income, being tho .lowest, for the past ten years. , '. : '. ..
The report also shows that there are between. 500 and 600 milionaires in Great Britain. There are :299 people in receipt of incomes between £50,000 and £75,000" a.'year; 97 people in receipt of incomes between £75,000 and £100,000; tine] 147 peoplo have incomes exceeding EIO.OJOQO. The estimated'number of individuals with total incomes above the exemption limit was 4,650,000, an increase of 150,000 on the preceding year.- Of these 2,400,000 were entirely relieved from 1 tax by the operations of- abatements 'arid-allowances,, leaving 2,250,000 '■• chargeable with tax.
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Bibliographic details
Evening Post, Volume CVII, Issue 85, 13 April 1929, Page 9
Word Count
172NATIONAL INCOME Evening Post, Volume CVII, Issue 85, 13 April 1929, Page 9
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