§ Mr. ButlerTo ask the Chancellor of the Exchequer how much tax revenue he estimated would be forgone under the payroll giving scheme for 1987–88 and 1988–89 at the time of the launch of the scheme; and if he will make a statement on the progress of the scheme.
§ Mr. Norman LamontThe payroll giving scheme was announced in the March 1986 Budget. The financial statement and Budget report issued at that time noted that the cost of the new relief would depend on take-up but that it could reach £20 million in 1987–88. No estimate for 1988–89 was made. In practice the initial take-up was lower, but about 3,200 schemes have now been set up and the number of participants is continuing to increase.