§ Mr. Meacherasked the Chancellor of the Exchequer what has been the total value of tax reliefs on life assurance contributions for each year since 1960; and, for each of these years, what was its average value to persons taking out such
1960–61 1961–62 1962–63 1963–64 1964–65 1965–66 1966–67 Total value of relief (£m) … … 53 58 61 64 66 68 70 Average value (£) by income range: Less than £1,000 … Not Available 2.99 2.83 2.85 £1,000–£2,000 … Not Available 5.74 5.45 5.20 £2,000–£5,000 … Not Available 18.79 17.42 17.14 £5,000–£10,000 … Not Available 40.65 39.77 42.19 £10,000 and over … Not Available 92.09 81.60 95.35
1967–68 1968–69 1969–70 1970–71 1971–72 1972–73 Total value of relief (£m) … 75 84 100 110 111 121 Average value (£) by income range: Less than £1,000 … … 2.95 3.15 3.64 4.19 Not Available £1,000–£2,000 … … … 5.28 5.58 6.35 6.37 Not Available £2,000–£5,000 … … … 16.73 15.79 15.42 13.36 Not Available £5,000–£10,000 … … … 43.18 44.43 49.44 47.46 Not Available £10,000 and over … … 99.34 93.77 97.48 99.60 Not Available Information by income range is not available before 1964–65 and is not yet available after 1970–71.