§ Mr. AllenTo ask the Chancellor of the Exchequer what is the tax relief on the employer's share of the personal pensions rebate paid by the Inland Revenue to the Department of Social Security for each of the years for which figures are available; and what is his estimate of the costs for each of the future years for which estimates are available.
§ Mr. Maude[holding answer 8 March 1991]: There is no additional tax relief on the employer's share of national insurance contribution rebates for personal pensions. Payments made to the Department of Social Security by the Inland Revenue as tax relief on the employees' share are as follows:
Year £ million 1988–89 37 1989–90 208 11990–91 170 1Estimated.
§ Mr. AllenTo ask the Chancellor of the Exchequer what is the cost of tax relief on the future income of the funds invested to provide personal pensions, using the technical assumption that the rate of return which will build up in personal pension schemes would otherwise have been subject to tax in the hands of individuals and institutions.
§ Mr. Maude[holding answer 8 March 1991]: Such an estimate would depend on future levels of investment, rates of return and tax rates.
634W