§ Mr. Dudley Smithasked the Chancellor of the Exchequer when the tax allowances for the luncheon vouchers scheme were first introduced; what the value of the first allowance would be at current prices; and whether, in view of the fact that the vouchers are often used for many items other than food, he will review the concession.
§ Mr. RidleyIn its existing form, the concession under which the first 15p of luncheon vouchers are tax-free dates from 1959. It applies only to non-transferable vouchers used for meals. Its current equivalent as measured by increases in the retail price index would be about one pound. The concession is reviewed from time to time.