§ Mr. Pardoeasked the Chancellor of the Exchequer if he will estimate for the current tax year and for 1975–76 the revenue foregone by life assurance relief, and the percentage of this which is at higher rates of tax.
§ Mr. Robert SheldonThe latest estimated cost of life insurance relief for 1975–76 is about £215 million. For 1976–77 the cost is likely to rise to about £235 million. Relief is given only in terms of tax at the basic rate.
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