§ 57. Mr. Sean HughesTo ask the Chancellor of the Exchequer what is his latest estimate of the financial effect on the Exchequer in a full year of the changes in taxation arrangements for executive golden handshakes announced in the Budget.
§ Mr. Norman LamontAssuming no consequential changes to the distribution of termination payments, the proposed increase in the tax-free slice of termination payments from £25,000 to £30,000 and abolition of the reduced rates of tax which applied to the next £50,000 of such payments are expected to lead to a small yield of £1 million to £2 million in a full year.