§ Mr. Wakehamasked the Chancellor of the Exchequer what is the estimated value for the year 1977–78 of the tax relief on (a) employer's contributions to approved pension funds, (b) life assurance relief, and (c) retirement annuities for those not in pensionable employment.
§ Mr. Robert Sheldon,pursuant to his reply [Official Report, 2nd March 1978; Vol. 945, c. 353], gave the following information:
I am not sure what the hon. Member has in mind with regard to employers' contributions to approved superannuation funds. While there is statutory provision for relief, ordinary annual contributions would be allowable in any case as a normal business expense. The estimated values for 1977–78 of life assurance relief and of retirement annuity relief are £240 million and £50 million respectively.