HC Deb 20 March 1997 vol 292 c909W
Mr. Thomason

To ask the Secretary of State for Social Security what will be the impact to public funds of the measures contained in the Pensions Act 1995. [21483]

Mr. Heald

The measures in the Pensions Act 1995 will reduce tax and national insurance revenue by about £0.5 billion in 1997–98, rising gradually to around £1.0 billion in 2050. The effect on expenditure in the first few years will be broadly neutral. The measures will produce expenditure savings of over £6 billion per annum in 2020 and over £10 billion in 2050.