§ Mr. Meacherasked the Chancellor of the Exchequer how much tax relief has been given to employees, and how much to employers, for each year between 1950 and 1970 arising from contributions to occupational pension schemes.
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§ Mr. Patrick JenkinEstimates of the cost of tax relief for employees' contributions for the years for which information is available are set out below.
Employers' contributions are deductible as a business expense; estimates of the additional tax which would have been payable for the same years if employers' contributions to those schemes were not deductible in computing business profits are also set out below.
Year Employees' contributions £m. Employers' contributions £m. 1949–50 6 35 1954–55 14 65 1959–60 28 115 1962–63 56 165 1963–64 59 180 1964–65 65 200 1965–66 74 160 1966–67 76 180 1967–68 78 210 1968–69 81 250