§ Mr. Wakehamasked the Chancellor of the Exchequer what is the value in terms of tax relief of employers contributions to approved superannuation funds allowed as a normal business expense as referred to in the answer to the hon. Member for Malden on 7th March 1978.
§ Mr. Robert Sheldon,pursuant to his reply—[Official Report, 15th March 1978; Vol. 946, c. 240]—gave the following information:
No figures are available of ordinary annual superannuation contributions by employers allowed as a normal business 750W expense but the total of these and lump sum contributions paid by employers who are trading is estimated at some £3,300 million in 1977–78. On the assumption that there were no consequential changes in the form of remuneration, the yield from withdrawing relief on the total contributions would be somewhere about £1,600 million.