HC Deb 07 February 1991 vol 185 cc203-4W
Mr. Battle

To ask the Chancellor of the Exchequer if he will publish a table showing the value of the main tax reliefs and the saving that would occur if these were restricted to the basic rate of tax.

Mr. Maude

The latest estimates of the costs of direct tax reliefs and allowances for 1990–91 are published in Cm. 1520 "Public Expenditure Analyses to 1993–94" statistical supplement to the 1990 autumn statement. The direct revenue yields in a full year at 1990–91 levels of income from restricting the following main income tax reliefs to the basic rate are estimated at:

Role of Kleinwort, Benson in Privatisations
Issue Date of sale Department Position
British Petroleum1 1983 Treasury Underwriter
1987 Treasury Underwriter
British Aerospace1 1985 Treasury Joint Lead Underwriter
Cable and Wireless1 1983 Treasury Adviser2 Lead Underwriter
1985 Treasury Underwriter
Britoil1 1985 Treasury Underwriter
Associated British Ports 1983 Transport Adviser3 Joint Underwriters
Enterprise Oil 1984 Energy Adviser Underwriter
British Telecom 1984 DTI Adviser Joint Lead Underwriter
British Gas 1986 Energy Underwriter
British Airways 1987 Transport Underwriter
Royal Ordnance 1987 Defence Adviser4
British Steel 1988 DTI Underwriter
Water and Sewerage Companies 1989 Environment Underwriter
Regional Electricity Companies 1990 Energy Adviser
1 Sale of Government shares (not a privatisation)
2 With Bank of England.
3 Early stages.
4 Initial study.

Role of Herbert Smith and Associates in Privatisations
Issue Date of sale Department Position
Royal Ordnance 1987 Defence Solicitor
National Seed development Organisation 1987 DES/MAFF Solicitor

Role of Slaughter and May in Privatisations
Issue Date of sale Department Position
Jaguar2 1984 DTI Solicitor
British Aerospace1 1985 Treasury Solicitor
Britoil1 1985 Treasury Solicitor
British Gas 1986 Energy Solicitor
Unipart2 1987 DTI Solicitor
British Airways 1987 Transport Solicitor
British Petroleum1 1987 Treasury Solicitor
Regional Electricity Companies 1990 Energy Solicitor
1 Sale of Government shares (not a privatisation).
2 Sale of a subsidiary.

£ million
Mortgage interest relief1 470
Relief on contribution to personal pensions2 3130
Relief on employees' contributions to occupational pension schemes 220
1 Assuming that mortgage interest rates remain at their current levels for the remainder of 1990–91.
2 Including relief for retirement annuity premia and free standing additional voluntary contributions.
3 This estimate is subject to a wide margin of error.