§ Mr. Skeet
asked the Chancellor of the Exchequer what is the value to a recipient of the additional pension paid to holders of the Victoria Cross and referred to in Section 368 of the Incomes and Corporation Taxes Act 1970.
§ Mr. Robert Sheldon
The amount of the additional pension is 2½p per day, which represents £9.13 per annum. This is exempted from tax by Section 368, Taxes Act 1970. The gross equivalent per annum for a person liable at the basic rate is £13.82.