HC Deb 25 November 1974 vol 882 c65W
Mr. George Cunningham

asked the Chancellor of the Exchequer what is his estimate of the increase in tax receipts if the earnings rule in relation to retirement pensions was abolished (a) at current rates of tax, and (b) after taking into account the new age allowance proposed in the Budget.

Mr. Robert Sheldon

The figures are (a) about £40 million; and (b) on the assumption that both the new age allowances and the higher level of retirement pensions to which these are related both applied in 1974–75, again about £40 million.