Private Pension Schemes (Tax Relief)

HC Deb 09 December 1980 vol 995 cc347-8W

Mr. Dykes

asked the Chancellor of the Exchequer what was the real cost to the Exchequer of providing tax relief

on payments made into private pension schemes in each of the years 1975–76, 1976–77, 1977–78, 1978–79 and 1979–80 respectively.

Mr. Peter Rees

[pursuant to his reply, 8 December 1980]: The net cost of all income tax reliefs for occupational pension schemes is estimated to be:

	£ million
1975–76	400
1976–77	400
1977–78	400
1978–79	500
1979–80	550

These figures are subject to a wide margin of eror. They live been calculated on the basis set out in the Inland Revenue's note of February 1978 to the General Sub-Committee of the Expenditure Committee—second report 1977–78, appendix 15.