§ Mr. Ridley
asked the Chancellor of the Exchequer what is the present estimated saving in administrative costs to the Revenue of the life offices deducting 706W life insurance premium relief on qualifying life policies.
§ Mr. Robert Sheldon
, pursuant to his reply [Official Report, 27th June 1978; Vol. 952, c. 501], gave the following information:
When the new system is fully in operation, the savings in administrative costs are expected to be in the region of £5 million a year.