§ Mr. Austin Mitchellasked the Chancellor of the Exchequer if he will estimate the cost in the present and in the next financial year of tax relief to pension funds.
§ Mr. MooreMeasurement of the revenue cost of tax reliefs available to occupational pension schemes and contributors depends upon the choice of an alternative tax regime against which the present arrangements are to be 119W compared. The Inland Revenue's consultative paper of September 1983 "Cost of tax reliefs for pension schemes: appropriate statistical approach" set out five possible bases for such a comparison. At 1984–85 levels, the revenue cost of reliefs under these five approaches would range from £900 million to £3,400 million. I regret that it is not possible to provide figures for 1985–86.