§ Mr. Trotter
asked the Chancellor of the Exchequer what is the present concession for tax purposes in respect of luncheon vouchers; when the concession was introduced; what is the amount to which it would require to be increased in order to restore it in real terms to its original value; and whether he proposes to increase it.
§ Dr. Gilbert
The value of luncheon vouchers issued to employees is, by concession, not taxed on condition that they are non-transferable; are used for meals only; are available to lower paid staff; and do not exceed 15p per employee for each full working day.
A concession on luncheon vouchers has been given since 1948, but the concession in its existing form dates from 1959. The present real terms equivalent of 15p at the date the concession was announced —20th January 1959—is 31p, as measured by the change in the retail price index.
In reply to the last part of the Question, I have nothing to add to the answer given on 26th March 1973 to a similar Question by the hon. Member for Bolton, West (Mr. Redmond).—[Vol. 871, c. 261.]