§ Mr. Bottomleyasked the Chancellor of the Exchequer what are the reasons of public policy for Her Majesty's 149W Government maintaining the eligibility of life insurance premiums for tax relief; and why there is a limit to the relief available.
§ Mr. MooreThe justification for tax relief for life assurance premiums is that it assists an individual to make provision for his dependants after his death, and for his retirement. The reason for the limit on the relief is to contain the cost to the Exchequer.