§ 24. Mr. Michael Jack(Con) (Fylde)
What assessment the commissioners have made of the cumulative impact on the Church of England's pension fund of the ending of the payable tax credit. 
§ Second Church Estates Commissioner (Sir Stuart Bell)
Once the transitional arrangements have come to an end in April 2004, the commissioners' income will have reduced by around £12 million per annum. Furthermore, the funded scheme responsible for pensions arising from service after 1 January 1998 had to increase the pension contribution rate as a direct result of the tax credit changes, and it is estimated that this additional cost to the Church is £5 million per annum.
§ Sir Stuart Bell
The figures that I have given are our contribution to the state, thanks to the Treasury. We are always happy to make submissions along the lines that the right hon. Gentleman suggested for the next Budget.