ABSTRACT
Our references to the proposed tax credit plan for the UK are based mainly on the official announcement of its general principles in March 1972 and on the Green Paper describing the scheme (Cmnd 5116) issued in October 1972. We have, however, commented on a subsequent important alteration in the treatment of family allowances which was recommended in the report of the Select Committee of the House of Commons, set up to examine the scheme (HC 341, HMSO 1973) and then adopted by the Government (pp. 151–152 below). The information on scales of social security benefits and estimated poverty-line income is for 1972; income tax rates and allowances are for 1973–74.
