§ MR. H. P. PEASE () DarlingtonI beg to ask Mr. Chancellor of the Exchequer whether, having regard to the fact that income tax is not charged on life assurance premiums, he will consider the advisability of making a similar arrangement in connection with money paid in subscriptions to superannuation funds.
§ THE CHANCELLOR OF THE EXCHEQUER (Sir M. HICKS BEACH,) Bristol, W.Exemption from income tax is already allowed in respect of subscriptions to superannuation funds which are paid compulsorily under an Act of Parliament, and are not returnable to the contributors under any contingency whatever. I do not think there is sufficient reason for further extension of the limits of this exemption, which, moreover, would give rise to great difficulty in practice.