HC Deb 29 February 1988 vol 128 cc439-40W
Mr. Maxwell-Hyslop

To ask the Chancellor of the Exchequer what is his estimate of the lost income tax revenue if the tax-free retirement gratuity limit were raised to(a) £30,000, (b) £40,000 and (c) £50,000.

Mr. Norman Lamont

I regret that information is not available centrally on the number of recipients or amounts

Mr. Wyn Roberts

The upgrading of the A55 is expected to be completed in the early 1990s, subject to the completion of statutory procedures and availability of financial resources. Information on individual major schemes since 1979 is as follows:

1. Completed
£ million
Scheme Opened Estimated gross cost Expenditure to date1
Holywell bypass stage I 1980 3.175 3.175
Diversion east of Abergele 1981 7.330 7.330
A5/A55 Bangor bypass 1983 28.393 28.393
Hawarden bypass 1984 32.463 32.429
Colwyn Bay bypass 1984–85 133.475 132.024
Holywell bypass stage II 1986 22.049 22.049
Bodelwydden bypass 1986 7.427 7.246
1 February 1988.

of retirement gratuities. The direct revenue costs, in 1987–88 terms, of increases in the tax-free limit for payments made on termination of employment are shown in the table. These estimates assume that the increase in the limit would not affect the distribution of termination payments.

Tax-free limit Cost
£ (£ million)
30,000 2
40,000 5
50,000 6

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