§ Mr. Michael Brownasked the Chancellor of the Exchequer how much tax relief was received by charities in each 729W year as from and including 1975–76 through covenanted donations at current prices and at March 1980 prices; whether he will estimate the comparable figures for 1980–81; and how much the recent tax concessions on covenanted income will amount to in a full year.
§ Mr. Peter ReesThe amount of income tax repaid in respect of deeds under covenant to charities is estimated as follows:
£ million 1975–76 30 1976–77 35 1977–78 40 1978–79 45 1979–80 55 1980–81 (estimate) 65 £ million at March 1980 prices 1975–76 50 1976–77 55 1977–78 55 1978–79 60 1979–80 60 1980–81 (estimate) 60 The full-year cost of the tax concessions on covenanted income proposed in the Budget is estimated to be some £25 million. The cost in 1980–81 is negligible.