§ Mr. Beaneyasked the Chancellor of the Exchequer what is the estimated amount to be paid in the form of tax relief for the year 1964–65 in relation to all industrial and other occupational pension schemes and self-employed schemes, giving tax relief to employers, employees, the self-employed and the investment income of superannuation funds separately.
§ Mr. MacDermotThe estimated costs of these tax reliefs for 1964–65 are about £65 million for employees, about £5 million for the self-employed and about £35 million for the investment income of superannuation funds (including income of assurance companies' annuity funds exempted under Section 24 of the Finance Act, 1956). If employers' contributions to these schemes had not been deductible in computing business profits the additional tax payable for 1964–65 would have been about £160 million.