§ Mr. Spellerasked the Chancellor of the Exchequer what current income tax concessions for pensioners with earned income cost the Exchequer.
§ Mr. Peter ReesI assume that my hon. Friend has in mind the higher tax allowances granted to people aged 65 or over. For those elderly people who have income from employment, the cost of these allowances, over and above the ordinary allowance levels, is about £120 million in a full year at 1981–82 income levels. Pensioners cannot readily be distinguished, but most taxpayers in this age group have some pension, either State of occupational.