§ 44. Mr. McKayasked the Chancellor of the Exchequer how much of the £734 million shown in table 161 of the Monthly Digest of Statistics as employers' contributions is paid to approved pension schemes apart from National Insurance; and, assuming that this is all allowed as an expense item, what is the resulting loss of revenue to the Exchequer.
Mr. AmoryOf the total employers' contributions of £734 million in 1956, £304 million consisted of National Insurance contributions and about half of the remaining £430 million related to contributions to superannuation funds or, in some cases, the actual pensions paid by Central and local Government and by the nationalised industries. Contributions to approved funds and schemes by employers in private industry amounted to just over £200 million, the tax relief in respect of which is estimated at about £90 million.