HC Deb 02 February 2004 vol 417 c530
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. [151916]

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.

Mr. Jack

Should not the Government revisit this matter, given the difficulties that the Church of England will have in replacing income of that order through the collecting plate or through other means?

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.