HL Deb 11 February 1976 vol 368 cc182-3WA
Lord GARDINER

asked Her Majesty's Government:

What is the approximate annual loss to the Exchequer caused by:

  1. (a) the income of occupational pension funds from investments not being subject to taxation;
  2. (b) occupational pension funds not being subject to capital gains tax;
    3. 183
  3. (c) the contribution of employees to occupational pension funds not being treated as part of their taxable income.

Lord JACQUES

The latest information on which to base the required estimates is the Government Actuary's Survey of Occupational Pension Schemes for 1971. For that year the costs of tax relief to occupational pension funds are as follows:

£ million
(a) on investment income 290
(b) on capital gains Not available
(c) on employees contributions 155