§ Mr. Dykesasked the Chancellor of the Exchequer what was the real cost to the Exchequer of providing tax relief 442W on payments made into private pension schemes in each of the years 1975–76, 1976–77, 1977–78, 1978–79 and 1979–80 respectively.
§ Mr. Peter Rees[pursuant to his reply, 8 December 1980]: The net cost of all income tax reliefs for occupational pension schemes is estimated to be:
£ million 1975–76 400 1976–77 400 1977–78 400 1978–79 500 1979–80 550 These figures are subject to a wide margin of eror. They hve been calculated on the basis set out in the Inland Revenue's note of February 1978 to the General Sub-Committee of the Expenditure Committee.—second report 1977–78, appendix 15.