§ Mr. C. Johnsonasked the Chancellor of the Exchequer what were the amounts of tax foregone in 1937–38 and 1959–60 on life assurance premiums paid for by employers for employees and their dependants.
§ Sir E. BoyleI assume the hon. Gentleman is referring to employers' contributions to approved superannuation schemes covered by policies of assurance. Such contributions rank as a business expense in computing trading profits; if, however, trading profits were computed before such deductions, the additional tax payable is estimated at about £50 million. I regret that corresponding figures for 1938–39 are not available.